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DAILY EARNINGS

Lowe’s Net Jumps; Staples, Target Net Fall


Author: Mukesh Buch
ticker.com
Last Update: 11:39 AM ET August 21 2013

10:45 AM New York – Intuit fourth-quarter net swung to a loss of $16 million. Smucker first-quarter net rose 2% to $131.5 million. Lowe’s second-quarter net surged 26% to $941 million. Staples second-quarter net declined 15% to $102.5 million. Target second-quarter net plunged 13% to $611 million.

Earnings Review

American Eagle Outfitters, Inc (AEO), the specialty retailer stated total revenue in the second-quarter ending on August 3 fell 2% to $727 million. Consolidated comparable store sales in the quarter declined 7%.

Net income in the quarter grew 3% to $19.6 million or 10 cents a diluted share compared to $19 million or 10 cents.

For the third-quarter, the company expects diluted earnings per share in the range of 14 cents to 16 cents.

Intuit Inc. (INTU), the financial service provider reported net sales in the fourth-quarter ending in July jumped 12% to $634 million. Net in the quarter swung to a loss $16 million or 5 cents a diluted share compared to a profit of $4 million or 1 cent.

For the year, the company expects revenue in the range of $4.44 billion to $4.53 billion and diluted earnings per share between $3.52 and $3.60.

For the first-quarter, the company expects revenue between $595 million and $605 million and diluted loss per share in the range of 10 cents to 11 cents.

The J. M. Smucker Company (SJM), the food products maker stated net sales in the first-quarter ending in July rose 1% to $1.35 billion. Net income in the quarter increased 2% to $131.5 million or $1.24 a diluted share compared to $129.4 million or $1.17.

The company added operating income in the first-quarter jumped 12% to $213.3 million.

Lowe’s Companies, Inc (LOW), the retailer said sales in the second-quarter ending on August 2 jumped 10% to $15.7 billion. Comparable store sales in the quarter advanced 9.6%.

Net earnings in the quarter surged 26% to $941 million or 88 cents a diluted share compared to $747 million or 64 cents.

The Madison Square Garden Company (MSG), the entertainment and media reported revenue in the fourth-quarter ending in June grew 1% to $334.6 million. Net income in the quarter jumped 10% to $36.4 million or 47 cents a diluted share compared to $28.6 million or 37 cents.

PetSmart, Inc. (PETM), the pet products supplier stated total sales in the second quarter ending in June jumped 5.3% to $1.7 billion. Comparable store sales in the quarter increased 3.4%.

Net income in the quarter climbed 18% to $93 million or 89 cents a diluted share compared to $79 million or 71 cents.

Staples, Inc. (SPLS), the office products retailer said sales in the second-quarter ending in June fell 2% to $5.3 billion. Net income in the quarter declined 15% to $102.5 million or 16 cents a diluted share compared to $120.4 million or 18 cents.

For full-year, the company expects diluted earnings per share from continuing operations to be in the range of $1.21 to $1.25.

Toll Brothers, Inc. (TOL), the home builder stated net sales in the third-quarter ending in July surged 24% to $689.2 million. Net income in the quarter plunged 24% to $46.6 million or 26 cents a diluted share compared to $61.6 million or 36 cents.

Target Corporation (TGT), the retailer reported total revenue in the second-quarter ending on August 3 grew 2% to $17.1 billion. Comparable store sales in the quarter increased 1.2%.

Net earnings in the quarter plunged 13% to $611 million or 95 cents a diluted share compared to $704 million or $1.06.

In third-quarter, the company expects adjusted earnings per share in the range of 80 cents to 90 cents and GAAP earnings per share between 55 cents and 65 cents.

For full-year, Target expects adjusted earnings per share between $4.70 and $4.90.
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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