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Market Update

Children’s Place, Dollar General, Men's Wearhouse Jump; Genesco Plunges


Author: Mukesh Buch
ticker.com
Last Update: 12:59 PM ET March 12 2015

12:50 PM New York – Children’s Place net jumped 8%. Dollar General declined 10% but sales climbed 10%. Genesco profit climbed 19% on 13% increase in revenues. Kirkland''s net and revenues soared. Men''s Wearhouse net loss widened while sales surged 66%. Revlon net swung to profit.

Tollbooth Index climbed 1.1% or 113.16 to 10,566.18.

Earnings Review

Children’s Place Inc (PLCE) surged 8% or $4.62 to $62.65 after the children''s specialty apparel retailer said net sales in the fourth-quarter ending in January increased 2.5% to $479.2 million form a year ago period.

Comparable store sales in the quarter climbed 3.7%.

Net income in the quarter jumped 8.3% to $17 million or 79 cents per diluted share compared to $15.7 million or 69 cents from the same quarter last year.

Dollar General Corp (DG) climbed 2.9% or $2.09 to $73.54 after the discount retailer reported net sales in the fourth-quarter ending in December climbed 9.9% to $4.94 billion from a year ago period.

Same-store sales in the quarter jumped 4.9%.

Net income in the quarter declined 10.2% to $355 million or $1.17 per diluted share compared to $322 million or $1.01 from the same quarter last year.

The company forecasted total sales for the year to increase between 8% and 9% and same-store sales to jump in the range of 3% to 3.5% and diluted earnings per share between $3.85 and $3.95.

Genesco Inc (GCO) plunged 7.6% or $5.59 to $67.69 after the footwear, apparel and accessories retailer reported net sales in the fourth-quarter ending in January soared 12.6% to $893 million form a year ago period.

Comparable store sales in the quarter surged 10%.

Net earnings in the quarter climbed 19.4% to $50.4 million or $2.12 per diluted share compared to $42.2 million or 48 cents from the same quarter last year.

Kirkland''s, Inc (KIRK) declined 6.7% or $1.62 to $22.62 after the home decor and gifts retailer stated net sales in the fourth-quarter ending in January surged 14.5% to $178.7 million form a year ago period.

Comparable store sales in the quarter climbed 8.2%.

Net earnings in the quarter soared 26.2% to $15.6 million or 87 cents per diluted share compared to $12.3 million or 69 cents from the same quarter last year.

The retailer forecasted total sales for the year to increase between 10% and 12% and earnings per share to be in the range of $1.15 to $1.20 compared with fiscal 2014.

Men''s Wearhouse Inc (MW) climbed 8.1% or $3.90 to $51.94 after the specialty retailer said net sales in the fourth-quarter ending in January jumped 65.6% to $928.4 million form a year ago period.

Comparable store sales in the quarter soared 6.8%.

Net loss in the quarter widened to $35.9 million or 75 cents per diluted share compared to $30.5 million or 64 cents from the same quarter last year.

Revlon Inc (REV) soared 5.2% or $1.70 to $34.73 after the beauty care products maker reported net sales in the fourth-quarter ending in December increased 2% to $501 million from a year ago period.

Net in the quarter swung to profit $2.7 million or 5 cents per diluted share compared to a net loss of $33.1 million or 63 cents from the same quarter last year.

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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