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DAILY EARNINGS

Lowe’s, Tiffany Net Climb; Target Net Drops


Author: Mukesh Buch
ticker.com
Last Update: 4:37 AM ET May 21 2014

10:45 AM New York – American Eagle first-quarter net plunged 86% to $4 million. Lowe’s first-quarter net climbed 16% to $624 million. Salesforce.com first-quarter net loss widened to $97 million. Target first-quarter net declined 16% to $418 million. Tiffany first-quarter net surged 50% to $126 million.

Earnings Review

American Eagle Outfitters, Inc (AEO), the specialty retailer said total revenue in the first-quarter ending on May 3 fell 4% to $646 million. Comparable store sales in the quarter declined 10%.

Net income in the quarter plunged 86.1% to $3.9 million or 2 cents a diluted share compared to $28.0 million or 14 cents.

Lowe’s Companies, Inc (LOW), the home improvement retailer reported net sales in the first-quarter ending on May 2 rose 2.4% to $13.4 billion. Comparable store sales in the quarter rose 0.9%.

Net income in the quarter climbed 15.6% to $624 million or 61 cents a diluted share compared to $540 million or 49 cents.

Netflix, Inc (NFLX), the pay television services provider plans to expand in Europe later in this year in Germany, Austria, Switzerland, France, Belgium and Luxembourg.

Salesforce.com, Inc (CRM), the cloud computing services provider reported revenue in the first-quarter ending in April surged 37% to $1.23 billion.

Net loss in the quarter widened to $96.9 million or 16 cents a diluted share compared to $67.7 million or 12 cents.

The company forecasted revenue for the second-quarter in the range of $1.28 billion to $1.29 billion, an increase of 34% to 35% from a year ago and loss per share between 13 cents and 12 cents.

For the year, the company lifted its revenue forecast between $5.30 billion and $5.34 billion, an increase of 30% to 31% from a year earlier and loss per share in the range of 49 cents to 47 cents.

Target Corporation (TGT), the discount store stated sales in the first-quarter ending on May 3 increased 2.1% to $17.1 billion. Comparable store sales in the quarter slid 0.3%.

Net earnings in the quarter declined 16% to $418 million or 66 cents a diluted share compared to $498 million or 77 cents.

Tiffany & Co. (TIF), the jewelry and watch retailers reported sales in the first-quarter ending on May 3 climbed 13% to $1 billion. Comparable store sales in the quarter jumped 11%.

Net earnings in the quarter surged 50% to $126 million or 97 cents a diluted share compared to $84 million or 65 cents.
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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