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Market Update

Dick's Sporting, Home Depot, TJX Surges; Elizabeth Plunges


Author: Mukesh Buch
ticker.com
Last Update: 12:17 PM ET August 19 2014

12:15 PM New York Dick''s Sporting net plunged 17% but revenue climbed 10%. Elizabeth net loss widened. Home Depot net soared 14.5% after sales jumped. Medtronic net declined 9%. TJX profit slid 0.5% while sales increased. Urban Outfitters net dropped 11%.

Tollbooth Index gained 0.6% or 55.91 to 9,478.54.

Earnings Review

Dick''s Sporting Goods, Inc (DKS) jumped 3.5% or $1.54 to $45.05 after the specialty retailer reported net sales in the second-quarter ending in July climbed 10% to $1.69 billion from a year ago period. Consolidated same store sales in the quarter rose 3.2%.

Net income in the quarter declined 17% to $69.5 million or 57 cents a diluted share compared to $84.2 million or 67 cents from a same quarter last year.

Elizabeth Arden, Inc (RDEN) plunged 24.3% or $4.76 to $14.85 after the beauty products retailer said net sales fourth-quarter ending in June tumbled 28.4% to $191.7 million from a year ago period.

Net loss in the quarter widened to $155.9 million or $5.24 a diluted share compared to $5.01 million or 17 cents from a same quarter last year.

The Home Depot, Inc (HD) soared 4.9% or $4.13 to $87.73 after the home improvement retailer reported sales in the second-quarter ending in June jumped 5.7% to $23.8 billion from a year ago period. Comparable store sales in the quarter climbed 5.8% and comparable sales for U.S. stores were advanced 6.4%.

Net earnings in the quarter soared 14.5% to $2.05 billion or $1.52 a diluted share compared to $1.79 billion or $1.24 from a same quarter last year.

The company forecasted sales for the year to increase 4.8% and raised diluted earnings per share for the year to soar approx 20.2% to $4.52 from fiscal 2013.

Lowe''s Companies, Inc (LOW) increased 2.5% to $51.70 ahead of earnings release on tomorrow.

Medtronic, Inc (MDT) rose 8 cents to $63.55 after the medical technology said revenue in the first-quarter ending on July 25 increased 4% to $4.27 billion from a year ago period.

Net earnings in the quarter declined 9% to $871 million or 87 cents a diluted share compared to $953 million or 93 cents from a same quarter last year.

The TJX Companies, Inc (TJX) surged 7.6% or $4.10 to $58 after the off-price apparel and home fashions retailer reported net sales in the second-quarter ending on August 2 climbed 7% to $6.92 billion from a year ago period. Comparable store sales in the quarter increased 3%

Net income in the quarter slid 0.5% to $517.6 million or 73 cents a diluted share compared to $479.6 million or 66 cents from a same quarter last year.

Urban Outfitters, Inc. (URBN) climbed 4.4% or $1.61 to $38.53 after the specialty retail said total sales in the second-quarter ending on August 3 advanced 7% to $811 million from a year ago period. Comparable store sales in the quarter were flat.

Net income in the quarter dropped 11% to $67.5 million or 49 cents a diluted share compared to $76 million or 51 cents from a 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