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DAILY EARNINGS

Lululemon, Signet Net Up, GameStop Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 9:22 AM ET March 27 2014

10:45 AM New York Conn''s fourth-quarter net climbed 57% to $28 million. GameStop fourth-quarter net declined 16% to $221 million. Lululemon fourth-quarter net edged up 0.3% to $110 million. Paychex third-quarter net soared 11% to $160 million. Signet Jewelers fourth-quarter net grew 2% to $175 million.

Earnings Review

Baxter International Inc (BAX), the healthcare company plans to create two separate, independent global healthcare companies by the middle of next year. One focused on biopharmaceuticals and the other on medical products.

Conn''s, Inc (CONN), the consumer electronics retailer reported revenue in the fourth-quarter ending in January soared 44.3% $361.1 million. Same store sales surged 33.4%.

Net income in the quarter climbed 56.5% to $27.7 million or 75 cents a diluted share compared to $17.7 million or 50 cents.

HB Fuller Co (FUL), the adhesives maker stated net revenue in the first-quarter ending on March 1 increased 1.3% to $486 million.

Net income in the quarter slumped 29.5% to $14.6 million or 28 cents a diluted share compared to $20.7 million or 41 cents.

GameStop Corp (GME), the video game retailer said total sales in the fourth-quarter ending on February 1 grew 3.4% to $3.68 billion. Comparable store sales in the quarter soared 7.8%.

Net income in the quarter declined 15.5% to $220.5 million or $1.89 a diluted share compared to $261.1 million or $2.15.

GameStop expects total sales in the first-quarter to grow between 7% to 10% and comparable store sales to increase 5% to 8%. Net income in the quarter expected to rise in the range of $64 million to $70 million and diluted earnings per share between 55 cents to 60 cents.

Lululemon Athletica Inc (LULU), the athletic apparel designer and retailer reported net revenue in the fourth-quarter ending on February 2 jumped 7% to $521 million. Comparable store sales in the quarter declined 2%.

Net income in the quarter edged up 0.3% to $109.7 million compared to $109.4 million and diluted per share was flat at 75 cents from a year ago.

For the first quarter, the retailer expects net revenue in the range of $377 million to $382 million and diluted earnings per share in the range of 31 cents to 33 cents.

For fiscal 2014, the company forecast net revenue between $1.77 billion and $1.82 billion and diluted earnings per share in the range of $1.80 to $1.90.

Paychex, Inc (PAYX), the payroll and outsourcing solution provider reported total revenue in the third-quarter ending in February jumped 7% to $636.5 million.

Net earnings in the quarter advanced 11% to $160.1 million or 44 cents a diluted share compared to $144.5 million or 40 cents.

Signet Jewelers Ltd (SIG), the jewellery retailer said total sales in the fourth-quarter ending on February 1 rose 3.4% to $1.56 billion. Same store sales in the quarter climbed 4.3%.

Net income in the quarter grew 2% to $175.2 million or $2.18 a diluted share compared to $171.8 million or $2.12.

The retailer added e-commerce sales in the quarter surged 23.6% to $79 million from $63.9 million in the same quarter of a year ago.

Worthington Industries, Inc (WOR), the metals processing company stated net sales in the third-quarter ending in February climbed 25% to $773.2 million.

Net earnings in the quarter tumbled 76.5% to $40.6 million or 57 cents a diluted share compared to $23 million or 32 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