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DAILY EARNINGS

L Brands Net Jumps; Best Buy, Dollar Tree, NetApp Net Decline


Author: Mukesh Buch
ticker.com
Last Update: 12:23 PM ET May 21 2015

12:30 AM New York – Best Buy first-quarter net tumbled 72% to $129 million. Dollar Tree first-quarter net plunged 50% to $70 million. L Brands first-quarter net surged 60% to $251 million. NetApp fourth-quarter net plummeted 32% to $135 million. Salesforce.com first-quarter net swung to profit after revenues climbed 23%.

Tollbooth Index gained 0.4% or 42.63 to 10,833.36.

Earnings Review

Best Buy Co Inc (BBY), the multi-channel retailer said total revenues in the first-quarter ending on May 2 fell 0.9% to $8.6 billion from a year ago period.

Comparable store sales in the quarter slid 0.6% while comparable online sales jumped 5.3%.

Net income in the quarter tumbled 72% to $129 million or 36 cents per diluted share compared to $461 million or $1.31 from the same quarter last year.

The electronic appliances retailer said domestic revenue in the quarter increased 1.4% to $7.9 billion and international revenue plunged 22.1% to $668 million.

The Buckle, Inc (BKE), the apparel, footwear, and accessories retailer reported net sales in the first-quarter ending on May 2 slid 0.1% to $271.3 million from a year ago period.

Comparable store sales in the quarter decreased 2.2% and online sales soared 12.9% to $24.2 million.

Net income in the quarter declined 9.9% to $33.6 million or 70 cents per diluted share compared to $37.3 million or 78 cents from the same quarter last year.

The Cato Corporation (CATO), the women’s fashion specialty retailer said total revenues in the first-quarter ending on May 2 was nearly flat at $183.9 million from a year ago period.

Same store sales in the quarter dropped 3%.

Net income in the quarter jumped 3.7% to $31.1 million or $1.11 per diluted share compared to $30 million or $1.04 from the same quarter last year.

For the second-quarter, the retailer forecasted earnings per share in a range of 54 cents to 57 cents on same store sales in the range of decrease 2% to flat.

The Cato earnings per share between $2.10 and $2.23 compared to prior estimated range of $2.19 to $2.03.

Dollar Tree, Inc (DLTR), the deep discount stores operator reported net sales in the first-quarter ending on May 2 climbed 8.8% to $2.2 billion from a year ago period.

Same store sales in the quarter jumped 3.4%.

Net income in the quarter plunged 49.7% to $69.5 million or 34 cents per diluted share compared to $138.3 million or 67 cents from the same quarter last year.

The retailer forecasted net sales to range from $2.17 billion to $2.23 billion earnings per share between 63 cents and 68 cents.

For the year, the company forecasted net sales between $9.24 billion and $9.42 billion from earlier estimated range of $9.21 billion to $9.45 billion and earnings per share in the range of $3.32 to $3.47.

Donaldson Company, Inc (DCI), the filtration systems provider stated revenues in the third-quarter ending in April slumped 9% to $568 million from a year ago period.

Net income in the quarter dropped 31% to $46.4 million or 33 cents per diluted share compared to $67.3 million or 46 cents from the same quarter last year.

L Brands Inc (LB), the women''s apparel retailer reported net sales in the first-quarter ending on May 2 jumped5% to $2.5 billion from a year ago period.

Same store sales in the quarter climbed 5%.

Net income in the quarter surged 59.5% to $250.5 million or 84 cents per diluted share compared to $157 million or 53 cents from the same quarter last year.

The company lifted its adjusted earnings per share guidance for the year in the range of $3.50 to $3.70 from previously announced between $3.45 and $3.65 and for second quarter earnings per share in the range of 60 cents and 65 cents.

NetApp Inc (NTAP), the storage and data management software provider said net revenues in the fourth-quarter ending on April 24 dropped 6.7% to $1.54 billion from a year ago period.

Net income in the quarter plummeted 31.5% to $134.9 million or 43 cents per diluted share compared to $197 million or 59 cents from the same quarter last year.

salesforce.com, Inc (CRM), the enterprise cloud computing solutions provider reported total revenues in the first-quarter ending in April climbed 22.8% to $1.51 billion from a year ago period.

Net in the quarter swung to profit $4.1 million or 1 cent per diluted share compared to a loss of $96.9 million or 16 cents from the same quarter last year.

The company forecasted adjusted earnings per share for the second quarter between 17 cents and 18 cents and for the year in the range of 69 cents to 71 cents.

Synopsys, Inc (SNPS), the engineering software developer said revenues in the second-quarter ending in April jumped 7.6% to $557.2 million from a year ago period.

Net income in the quarter slipped 12.2% to $55.6 million or 35 cents per diluted share compared to $63.3 million or 40 cents from the same quarter last year.

For the third-quarter, the company forecasted revenues between $550 million and $560 million and adjusted earnings per share in the range of 58 cents to 60 cents.

For the year, Synopsys forecasted revenues in the range of $2.21 billion to $2.24 billion and adjusted earnings per share between $2.76 and $2.81.

Williams-Sonoma, Inc (WSM), the home furnishings retailer reported total revenues in the first-quarter ending on May 3 climbed 5.7% to $1 billion from a year ago period.

Net income in the quarter increased 4.3% to $44.8 million compared to $46.2 million and diluted earnings per share were flat at 48 cents from the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc