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Market Update

Dex Media, Williams-Sonoma Rise; Dollar General Falls


Author: Mukesh Buch
ticker.com
Last Update: 9:41 AM ET March 13 2014

9:40 AM New York Dollar General net rose 2% and sales climbed 7%. Dex Media net loss widened and repaid $541 million of bank debt in the quarter. Genesco profit climbed 9%. Stein Mart net plunged 45% and comparable sales jumped 3.1%. Williams-Sonoma net soared 9%.

Dollar General Corp (DG) dropped 2.6% or $1.53 to $57.76 after the discount retailer stated sales in the fourth-quarter ending in January climbed 6.8% to $4.49 billion. Same store sales in the quarter grew1.3%.

Net income in the quarter rose 1.6% to $322 million or $1.01 a diluted share compared to $317 million or 97 cents.

For the year, the company expects total sales to increase 8% to 9% from fiscal 2013 and same-store sales to increase between 3% and 4%. Diluted earnings per share for the year is expected by the retailer in the range of $3.45 to $3.55.

Dex Media Inc (DXM) surged 15.8% or $1.05 to $7.52 after the marketing solution provider said revenue in the fourth-quarter ending in December soared 43.5% to $429 million.

Net loss in the quarter widened to $556 million or $32.29 a diluted share compared to $37 million or $3.56.

The company said along with its predecessor companies have repaid $541 million of bank debt year to date through the fourth-quarter.

Genesco Inc (GCO) gained 30 cents to $73.25 after the footwear, apparel and accessory retailer said reported net sales in the fourth-quarter ending on February 1 slid 0.5% to $793 million. Comparable store sales in the quarter rose 1%

Net income in the quarter climbed 8.8% to $42.2 million or $1.79 a diluted share compared to $38.8 million or $1.63.

Stein Mart, Inc (SMRT) rose 14 cents to $14.43 after the specialty retailer reported net sales in the fourth-quarter ending on February 1 fell 2.1% to $360.8 million. Comparable store sales in the quarter jumped 3.1%.

Net income in the quarter plunged 45.2% to $7.4 million or 16 cents a diluted share compared to $13.5 million or 30 cents.

Williams-Sonoma, Inc (WSM) soared 10.2% or $6.37 to $65.27 after the home furnishing retailer said net revenue in the fourth-quarter ending on February 2 grew 4.2% to $1.47 billion. Comparable store sales in the quarter surged 10.4%.

Net earnings in the quarter advanced to $133.8 million or $1.38 a diluted share compared to $133.7 million or $1.34.

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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