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DAILY EARNINGS

UniFirst Net Soars 19%, Macy’s December Sales Up 4.1%


Author: Mukesh Buch
ticker.com
Last Update: 11:20 AM ET January 03 2013

10:45 AM New York – Family Dollar first quarter net fell to $80.3 million. Landec second quarter net surged nearly three-fold. Limited Brands comparable store sales in December increase of 3%. Macy’s December sales increased 4.1% and Ross Stores sales jumped 6%. UniFirst first quarter net soared 19%.

Earnings Review

Family Dollar Stores, Inc. (FDO), the discount store said net sales in the first quarter ending on November 24 climbed 12% to $2.42 billion from $2.15 billion in the same period of last year. Comparable store sales for the quarter increased 6.6%.

Net income in the quarter edged down to $80.28 million or 69 cents a diluted share compared to $80.35 million or 62 cents a share a year ago earlier.

The discount retailer said gross profit in the quarter increased 9.1% to $826.8 million, or 34.1% of net sales and selling, general and administrative expenses of net sales, were 28.9% from 29.2% and effective income tax rate in the quarter was 36.4% as compared to 37.4% in the last year.

The company expects comparable store sales in the second quarter to increase between 4% and 5% and earnings per diluted share in the range of $1.18 to $1.28.

The company lifted expected diluted earnings per share in fiscal 2013 between $3.95 and $4.20 from $3.58 in fiscal 2012 and comparable store sales to increase between 4% and 6%.

Landec Corporation (LNDC), the polymer products maker stated total revenues in the second quarter ending on November 25 climbed 41% to $114.7 million from $81.6 million in the same period of last year. Net income in the quarter surged nearly three-fold to $8.91 million or 34 cents a diluted share compared to $3.34 million or 13 cents a share a year ago period.

The Landec expects revenues in fiscal 2013 to increase 33% to 38% and net income to grow 60% to 70%.

Limited Brands, Inc. (LTD), the specialty retailer reported comparable store sales increased 3% and net sales increased to $1.95 billion.

Macy’s, Inc. (M), the discount retailer reported total sales of five weeks ended on December 29 increased 3.6% to $5.10 billion and same store sales increased 4.1%.

For the year to date, Macy’s, Inc. sales totaled $25.887 billion.

Ross Stores, Inc. (ROST), the off-price retailer reported sales in December climbed 11% to $1.28 billion and comparable store sales for the month jumps 6%.

The retailer lifted fourth quarter earnings per share guidance to $1.05 to $1.06, from previous guidance of $.99 to $1.04.

UniFirst Corporation (UNF), the uniforms provider reported total revenues in the first quarter ending on November 25 advanced 6% to $332.6 million from $313 million in the same period of last year. Net income in the quarter soared 19% to $30.8 million or $1.54 cents a diluted share compared to $25.8 million or $1.30 a share a year ago.

The company expects fiscal 2013 revenues in the range of $1.34 billion to $1.35 billion and diluted earnings per share between $5.10 and $5.25.

Worthington Industries, Inc. (WOR), the metals processing company said net sales in the second quarter ending on November 25 jumped 10% to $622.6 million from $565.7 million in the same period of last year. Net earnings in the quarter climbed more than two-fold to $31.8 million or 45 cents a diluted share compared to $12 million or 17 cents a share a year ago period.

The company added gross margin for the quarter jumped 68% to $94.9 million from $56.6 million in the prior year quarter.
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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