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Market Update

Buckle, Genesco, Hibbett, Zumiez Net Decline; Square Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 1:13 AM ET March 12 2016

12:00 PM New York Buckle profit declined after sales dropped. Genesco net slumped 8% but sales increased. Hibbett Sports net plunged 13%. Square net loss widened. Ulta Salon net and total sales surged. Zumiez net tumbled 25% on 6% decline in revenues.

Tollbooth Index jumped 122.44 or 1.2% to 10,512.56.

Earnings Review

Buckle Inc (BKE) increased 2.4% or 75 cents to $32.34 after the apparel, footwear and accessories retailer said net sales in the fourth-quarter ending in January dropped 6.1% from a year ago to $332 million.

Comparable sales in the quarter declined 7.2% but online sales surged 7.1% to $35.3 million.

Net income in the quarter plunged 9.7% to $54.3 million or $1.13 per diluted share compared to $60.1 million or $1.25 per share from the same quarter last year.

Genesco Inc (GCO) slumped 2.6% or $1.75 to $65.95 after the footwear, apparel and accessories retailer stated net sales in the fourth-quarter ending in January jumped 4.4% from a year ago to $932 million.

Comparable sales in the quarter increased 4% with a 5% increase in the Journeys group, a 3% increase in the Lids Sports Group, while 2% decrease in the Schuh group and a 6% increase in the Johnston & Murphy Group.

Net income in the quarter declined 7.9% to $46.4 million or $2.14 per diluted share compared to $50.4 million or $2.12 per share from the same quarter last year.

The company forecasted diluted earnings per share in the fiscal 2017 in the range of $4.80 to $4.90, represents 12% to 14% increase from Fiscal 2016.

Hibbett Sports, Inc (HIBB) slipped 1.3% or 48 cents to $35.72 after the sporting goods retailer reported net sales in the fourth-quarter ending in January rose 2.7% from a year ago to $245.7 million.

Comparable sales in the quarter fell 0.6%.

Net income in the quarter plunged 12.6% to $17.4 million or 76 cents per diluted share compared to $19.9 million or 79 cents per share from the same quarter last year.

The retailer estimated diluted earnings per share in the fiscal 2017 between $2.90 and $3.04 and increase in comparable store sales in the low single digit range.

Square Inc (SQ) slid 10 cents to $11.20 after the financial and marketing services provider reported revenues in the fourth-quarter ending in December surged 49.2% from a year ago to $374.4 million.

Net loss in the quarter widened to $80.5 million or 34 cents per diluted share compared to $37.1 million or 25 cents per share from the same quarter last year.

Ulta Salon, Cosmetics & Fragrance, Inc (ULTA) surged 16.2% or $26.49 to $189.88 after the beauty products retailer reported net sales in the fourth-quarter ending in January advanced 21.1% from a year ago to $1.27 billion.

Comparable sales in the quarter surged 12.5% mainly driven by 8.6% growth in transactions and 3.9% growth in average ticket.

Comparable retail sales jumped 10.4% salon comparable sales increased 16.7% to $54.6 million and online sales soared 44.2% to $94.8 million.

Net income in the quarter jumped 23.6% to $107.8 million or $1.69 per diluted share compared to $87.3 million or $1.35 per share from the same quarter last year.

Zumiez Inc (ZUMZ) plunged 10.5% or $2.30 to $19.58 after the specialty retailer said total net sales in the fourth-quarter ending in January slumped 6.2% from a year ago to $242.4 million.

Comparable sales in the quarter plummeted 9.5%.

Net income in the quarter tumbled 24.9% to $13.1 million or 50 cents per diluted share compared to $17.5 million or 60 cents per share from the same quarter last year.

In the first-quarter, the Zumiez estimated net sales in the range of $172 million to $175 million and comparable sales to decrease between 5% and 7% while net loss per diluted share between 7 cents and 11 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