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Market Update

Lululemon Soar, RadioShack Struggles to Avert Bankruptcy


Author: Mukesh Buch
ticker.com
Last Update: 3:57 AM ET September 11 2014

12:20 PM New York Brady Corp plunged despite quarterly net loss narrowed. Five Below net doubled after sales soared. Kroger profit climbed 9% on 12% increase in sales. Lululemon lifted annual outlook. Men''s Wearhouse net plunged 71%. RadioShack net loss widened and arranges debt financing.

Tollbooth Index fell 0.3% or 25.66 to 9,485.92.

Earnings Review

Brady Corporation (BRC) plunged 9.6% or $2.61 to $24.46 after the identification solutions provider said net sales in the fourth-quarter ending in July increased 2% to $316.7 million from a year ago period.

Net loss in the quarter narrowed to $110 million or $2.15 a diluted share compared to $177 million or $3.43 from a same quarter last year.

Five Below Inc (FIVE) gained 1.8% or 78 cents to $43.08 after the department stores operator stated net sales in the second-quarter ending on August 2 soared 30.2% to $152.5 million from a year ago period. Comparable store sales in the quarter climbed 3.2%.

Net income in the quarter doubled to $8.3 million or 15 cents a diluted share compared to $4.1 million or 7 cents from a same quarter last year.

The company forecasted third-quarter net sales in the range of $136 million to $138 million and net income between $2.8 million to $3.3 million and diluted earnings per share in the range of 5 cents to 6 cents.

For the year, the retailer expected net sales between of $681 million to $687 million and comparable store sales to increase about 4%. Net income estimated in the range of $47.2 million to $48.8 million and diluted earnings per share between 86 cents and 89 cents.

The Kroger Co (KR) slipped 49 cents to $51.41 after the retailer reported total sales in the second-quarter ending on August 16 soared 12% to $25.3 billion from a year ago period.

The sales were boosted by acquisition of Harris Teeter that added more than 200 stores and also the purchase of online vitamin store Vitacost.com for $280 million.

Net earnings in the quarter climbed 9% to $347 million or 70 cents a diluted share compared to $317 million or 60 cents from a same quarter last year.

Lululemon Athletica Inc (LULU) surged 15.9% or $6.12 to $44.51 the athletic apparel retailer reported net revenue in the second-quarter ending on August 3 jumped 13% to $390.7 million from a year ago period. Comparable store sales in the quarter dropped 5%.

Net income in the quarter declined 13% to $49 million or 33 cents a diluted share compared to $56 million or 39 cents from a same quarter last year.

The Men''s Wearhouse, Inc. (MW) declined 5.5% or $3 to $50.87 after the specialty retailer stated net sales in the second-quarter ending on August 2 soared 24.1% to $803.1 million from a year ago period.

Comparable store sales at Men''s Wearhouse, Moores and K&G jumped at 4.4%, 10.2% and 5.6% respectively.

Net earnings in the quarter plunged 71.3% to $12.3 million or 25 cents a diluted share compared to $42.9 million or 85 cents from a same quarter last year.

RadioShack Corporation (RSH) surged 17.1% or 16 cents to $1.09 after the consumer electronics goods retailer said net revenue in the second-quarter ending on August 2 declined 21.8% to $673.8 million from a year ago period. Comparable store sales in the quarter tumbled 20%.

Net loss in the quarter widened to $137.4 million or $1.35 a diluted share compared to $52.2 million or 51 cents from a same quarter last year.

The company signaled that it may need more capital and it is working with bond holders, banks and landlords.

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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