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Market Update

Fresh Market, GameStop Climb; Aeropostale, Hibbett Sports Decline


Author: Mukesh Buch
ticker.com
Last Update: 4:47 AM ET May 22 2014

11:45 AM New York Aeropostale net loss widened as sales declined. Best Buy net swung to profit but sales dropped. Foot Locker net climbed 17%. Fresh Market net plunged 24%. Gap net tumbled 22%. GameStop profit surged 24%. Hibbett Sports net jumped 8%.

Aeropostale Inc (ARO) plunged 22.1% or $1 to $3.52 after the specialty retailer said net sales in the first-quarter ending on May 4 dropped 12% to $395.9 million. Comparable-store sales in the quarter declined 13%.

Net loss in the quarter widened to $76.8 million or 98 cents a diluted share compared to $12.2 million or 16 cents.

Best Buy Co Inc (BBY) rose 10 cents to $26.32 after the consumer electronics retailer in the first-quarter ending on May 3 fell 3.4% to $9.03 billion. Comparable-store sales in the quarter dropped 5.8%.

Net in the quarter swung to profit $461 million or $1.31 a diluted share compared to a loss of $81 million or 24 cents.

Foot Locker, Inc (FL) gained 42 to $48.59 after the shoes and apparel retailer reported revenue in the first-quarter ending on May 3 jumped 14% to $1.87 billion. Comparable-store sales in the quarter soared 7.6%.

Net income in the quarter climbed 17.4% to $162 million or $1.10 a diluted share compared to $138 million or 90 cents.

The Fresh Market Inc (TFM) jumped 4.8% or $1.37 to $30.01 after the perishable product retailer reported net sales in the first-quarter ending on April 27 climbed 17.6% to $431 million. Comparable-store sales in the quarter increased 2.5%.

Net income in the quarter plunged 24.5% to $16.6 million or 34 cents a diluted share compared to $22.1 million or 46 cents.

The Gap Inc (GPS) slipped 20 cents to $40.66 after the specialty apparel retailer said net sales in the first-quarter ending on May 3 rose 1% to $3.77 billion. Comparable-store sales in the quarter fell 1%.

Net income in the quarter tumbled 21.9% to $260 million or 58 cents a diluted share compared to $333 million or 71 cents.

GameStop Corp (GME) climbed 4.9% or $1.81 to $38.69 after the multi-channel video game retailer stated total sales in the first-quarter ending on May 3 advanced 7% to $1.87 billion. Comparable-store sales in the quarter climbed 5.8%.

Net income in the quarter surged 24.5% to $68 million or 59 cents a diluted share compared to $54.6 million or 46 cents.

Hibbett Sports, Inc (HIBB) declined 6.1% or $3.46 to $53.65 after the sporting goods retailer said net sales in the first-quarter ending on May 3 soared 9.1% to $261.9 million. Comparable-store sales in the quarter jumped 4.1%.

Net income in the quarter jumped 8.4% to $28.4 million or $1.09 a diluted share compared to $26.2 million or $1.

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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