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DAILY EARNINGS

Smucker, Lowe's, Staples, Target Net Climb


Author: Mukesh Buch
ticker.com
Last Update: 12:22 PM ET November 19 2014

12:30 AM New York PetSmart third-quarter net was flat at $92 million. Smucker second-quarter net jumped 3% to $158 million. Lowe''s third-quarter net surged 17% to $585 million. Staples third-quarter net soared 60% to $217 million. Target third-quarter net jumped 3.1% to $352 million.

Tollbooth Index dropped 0.6% or 58.50 to 9,789.04.

Earnings Review

PetSmart, Inc (PETM), the pet retailer stated net sales in the third-quarter ending on November 2 increased 2.6% to $1.7 billion from a year ago period. Comparable store sales in the quarter were flat.

Net income in the quarter was flat at $92.2 million and diluted earnings per share jumped 4.5% to 92 cents from 88 cents in the same period a year ago.

Private equity firms KKR & Co LP and Clayton, Dubilier & Rice LLC plans for a joint bid for more than $7.5 billion, as the company already fronting pressure from Jana and other investors.

The J.M. Smucker Company (SJM), the branded food products maker said net sales in the second-quarter ending in October dropped 5% to $1.48 billion from a year ago period.

Net income in the quarter jumped 3% to $158.3 million or $1.55 a diluted share compared to $153.4 million or $1.46 from a same quarter last year.

Lowe''s Companies, Inc (LOW), the home improvement retailer reported net sales in the third-quarter ending in October climbed 5.6% to $13.7 billion from a year ago period. Comparable store sales in the quarter jumped 5.1%.

Net earnings in the quarter surged 17.3% to $585 million or 59 cents a diluted share compared to $499 million or 47 cents from a same quarter last year.

The company forecasted total sales for the year to jump 4.5% to 5% and comparable sales to increase 3.5% to 4% and diluted earnings per share estimated to $2.68.

La-Z-Boy Inc (LZB), the reclining chairs and upholstery products retailer said sales in the second-quarter ending on October 25 jumped 3.8% to $365.6 million form a year ago period.

Net income in the quarter climbed 16.8% to $19.5 million or 37 cents a diluted share compared to $16.7 million or 31 cents from a same quarter last year.

Staples, Inc (SPLS), the office products retailer reported total sales in the third-quarter ending on November 1 dropped 2.5% to $5.96 billion from a year ago period.

Net income in the quarter soared 60.3% to $216.8 million or 34 cents a diluted share compared to $135.2 million or 21 cents from a same quarter last year.

Stage Stores Inc (SSI), the off-price retailer stated net sales in the third-quarter ending on November 1 rose 2.3% to $364.2 million from a year ago period.

Net loss in the quarter narrowed to $5.3 million or 17 cents a diluted share compared to $10.9 million or 34 cents from a same quarter last year.

Target Corporation (TGT), the discount stores operator reported sales in the third-quarter ending on November 1 increased 2.8% to $17.73 billion from a year ago period. Comparable store sales in the U.S. Segment in the quarter rose 1.2%.

Net income in the quarter jumped 3.1% to $352 million or 55 cents a diluted share compared to $341 million or 54 cents from a same quarter last year.

The retailer said sales from the Canadian segment climbed 43.8% and comparable sales increased 1.6 % from the same period a year ago.
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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