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Market Update

Five Below, Lindsay, Movado, PVH Surge; REX American Declines


Author: Mukesh Buch
ticker.com
Last Update: 12:33 PM ET March 26 2014

12:30 PM New York Five Below surged after profit and net sales climbed. Lindsay jumped despite revenues declined 13%. Movado soared after revenue rose 7% but net slumped 9%. PVH net swung to a loss. REX American net swung to profit.

Five Below Inc (FIVE) surged 15.4% or $5.85 to $43.83 after the retailer reported net sales in the fourth-quarter ending on February 1 climbed 22.1% to $212 million. Comparable store sales in the quarter rose 0.3%.

Net income in the quarter soared 29.2% to $24.8 million or 45 cents a diluted share compared to $19.2 million or 35 cents.

For the first quarter, the retailer expects net sales in the range of $120 million to $122 million and net income between $2 million and $2.5 million.

Lindsay Corporation (LNN) jumped 3.3% or $2.62 to $82.99 after the agricultural machinery said revenues in the second-quarter ending in February dropped 12.9% to $152.8 million.

Net earnings in the quarter plunged 30.9% to $13.4 million or $1.04 a diluted share compared to $19.4 million or $1.50.

Movado Group, Inc (MOV) climbed 9.2% or $3.86 to $45.89 after the fine watches maker stated revenue in the fourth-quarter ending in January jumped 7% $132.3 million.

Net income in the quarter slumped 8.9% to $7.2 million or 28 cents a diluted share compared to $7.9 million or 31 cents.

PVH Corp (PVH) soared 5.2% or $6.07 to $123.32 after the apparel and accessory seller stated revenue in the fourth-quarter ending on February 2 surged 29.1% to $1.95 billion.

Net in the quarter swung to a loss $37.5 million or 46 cents a diluted share compared to a profit of $80.7 million or $1.09.

REX American Resources Corp (REX) plunged 6.3% or $3.70 to $55.40 after the consumer electronics retailers stated revenue in the fourth-quarter ending in January declined $146.09 million.

Net in the quarter swung to profit $15.9 million or $1.95 a share compared to a loss of $4.44 million or 54 cents a share.

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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