12:00 PM New York – Ascena Retail fourth-quarter net swung to profit $14 million and sales surged 55% to $1.8 billion. Lennar third-quarter net jumped 6% to $236 million and revenues soared 14% to $2.8 billion.
Tollbooth Index edged up 6.01 to 10,914.28.
Ascena Retail Group Inc
) tumbled 27.2% or $2.19 to $5.92 after the specialty retailer said net sales in the fourth-quarter ending in July surged 54.7% from a year ago to $1.81 billion.
Comparable store sales in the quarter slumped 4%.
Net in the quarter swung to profit $13.8 million or 7 cents per diluted share compared to the net loss of $323.4 million or $1.98 per share from the same quarter last year.
Ascena Retail forecasted total sales in the fiscal 2017 between $6.9 billion and $7 billion and diluted earnings per share in the range of 46 cents to 51 cents.
) dropped 2.3% or $1.03 to $44.06 after the home-builder said revenues in the third-quarter ending in August soared 14% from a year ago to $2.8 billion.
Net income in the quarter jumped 5.6% to $235.8 million or $1.01 per diluted share compared to the $223.3 million or 96 cents per share from the same quarter last year.
The home-builder reported new orders in the quarter advanced 8% to 7,018 homes and increased 10% in dollar value to $2.6 billion and backlog advanced 12% to 9,253 homes and surged 14% in dollar value to $3.4 billion.