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Market Update

Alico, G-III Apparel, Leidos Soar; Walgreen November Sales Jump


Author: Mukesh Buch
ticker.com
Last Update: 12:11 PM ET December 03 2014

11:55 AM New York Abercrombie & Fitch net swung to profit but sales declined. Alico agreed to acquire Florida-based three citrus producers for about $363 million. G-III Apparel net climbed 35%. Leidos net swung to profit. OmniVision net jumped 7%. Walgreen November sales climbed 5%.

Tollbooth Index rose 0.3% or 30.12 to 10,008.76.

Earnings Review

Abercrombie & Fitch Co (ANF) climbed 3.7% or $1.05 to $28.89 after the specialty retailer reported total sales in the third-quarter ending onNovember 2 plunged 12% to $911.4 million from a year ago.

Comparable store sales in the quarter declined 14% but direct-to-consumer sales jumped 8%.

Net in the quarter swung to profit $18.2 million or 25 cents a diluted share compared to a loss of $15.6 million or 20 cents from a same quarter last year.

Alico, Inc (ALCO) surged 14.5% or $5.91 to $41.75 after the agricultural company agreed to acquire Florida-based three citrus producers for about $363 million.

Brown Shoe Company, Inc (BWS) gained 1.8% or 61 cents to $33.17 on speculation the footwear retailer was approach by women''s luxury shoe retailer Stuart Weitzman Holdings LLC for about $1 billion.

G-III Apparel Group, Ltd (GIII)) surged 11.8% or $9.75 to $94.37 outerwear and sportswear maker said net sales in the third-quarter ending in October soared 21% to $812.3 million a year ago period.

Net income in the quarter climbed 35.2% to $80.6 million or $3.53 a diluted share compared to $59.6 million or $2.85 from a same quarter last year.

Leidos Holdings Inc (LDOS) soared 6.3% or $2.56 to $42.74 after the science and technology company reported revenues in the third-quarter ending in October declined 10% to $1.28 billion from a year ago period.

Net in the quarter swung to profit $34 million or 46 cents a diluted share compared to a loss of $3 million or 4 cents from a same quarter last year.

OmniVision Technologies, Inc (OVTI) slid 3 cents to $26.75 after the image-sensor device maker said revenues in the second-quarter ending in October fell 0.8% to $394 million from a year ago period.

Net income in the quarter jumped 6.5% to $28 million compared to $26.3 million a year ago period and diluted earnings per share were flat at 47 cents.

Walgreen Company (WAG) increased 1.3% or 88 cents to $67.65 after the drugstore retail chain reported November sales climbed 4.9% to $6.36 billion from a year ago month.

Total front-end sales increased 1.3% and comparable store front-end sales rose 0.8%. Customer traffic in comparable stores dropped 3.3% and average basket size jumped 4.1%. Prescriptions filled at comparable stores increased by 2.6%.

Total sales for the fiscal first-quarter ending in November soared 6.8% to $19.59 billion and comparable store sales in the quarter climbed 5.8%, front-end comparable store sales rose 1.5%.

Prescriptions filled at comparable stores climbed 4.2% and comparable pharmacy sales surged 8.3%.

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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