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Market Update

Lands’ End, Restoration Hardware Climb; Lululemon, Grainger Drop


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

12:30 PM New York – Eros International net dropped 7%. Lululemon tumbled after net plunged 60% but revenue climbed 11%. Lands’ End net soared 48%. Restoration Hardware net swung to profit. W.W. Grainger said daily sales in May jumped 6%.

Eros International Plc (EROS) slid 3 cents to $15.98 after the India-based entertainment group reported revenues in the fourth-quarter ending in March surged 21.2% to $63.3 million.

Net income in the quarter dropped 7.2% to $6.4 million or 12 cents a diluted share compared to $6.9 million or 14 cents.

Lululemon Athletica Inc (LULU) tumbled 15.5% or $6.90 to $37.67 after the athletic apparel retailer said net revenues in the first-quarter ending onMay 4 climbed 11% to $384.6 million. Comparable corporate-store sales in the quarter slipped 4%.

Net income in the quarter plunged 59.8% to $19 million or 13 cents a diluted share compared to $47.3 million or 32 cents.

Lands’ End, Inc (LE) surged 10.5% or $2.79 to $29.42 after the accessories retailer reported revenues in the first-quarter ending on May 2 rose 3.6% to $330.5 million.

The company reported its first quarterly result as an independent company after it was spun off from Sears Holdings.

Same-store sales in the quarter increased 3.4%.

Net income in the quarter soared 48.1% to $10.9 million or 34 cents a diluted share compared to $7.3 million or 23 cents.

Restoration Hardware Holdings, Inc. (RH) climbed 14.1% or $10.04 to $81.39 after the home furnishing retailer said total net revenues in the first-quarter ending on May 3 climbed 22% to $366.3 million. Comparable store revenue growth in the quarter jumped 18%.

Net in the quarter swung to profit $1.8 million or 4 cents a diluted share compared to a loss of $0.16 million or a break even share.

W.W. Grainger, Inc (GWW) dropped 2.8% or $7.67 to $261.66 after the industrial machinery and equipment maker reported daily sales in May jumped 6% from a year ago.

The company said daily sales in the U.S. in May climbed 8% while in Canada declined 7%. Sales from the other business surged 16%.

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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