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Market Update

U.S. Movers: Ann, Analog Devices, Express, Movado, PVH, Fresh Market


Author: Mukesh Buch
ticker.com
Last Update: 11:08 AM ET November 28 2012

10:45 AM New York Ann third quarter net climbed 26% and Analog Devices net dropped 2%. Express profit declined 38% to $17.4 million and revised outlook. Jos. A. Bank Clothiers third quarter net dropped 11% and Fresh Market net climbed 19%.

Ann Inc. (ANN) climbed 3.3% or $1.06 to $33.37 after the specialty retailer said net sales in the third quarter ending on October 27 increased 9% to $612.5 million from $564 million in the same period of last year. Comparable sales in the quarter increased 5.5%.

Net income in the quarter climbed 26% to $40.7 million or 84 cents a diluted share compared to $32.3 million or 61 cents a share a year ago earlier.

For the fiscal fourth quarter, the retailer expects total net sales to be approximately $625 million and for the full year net sales of $2.395 billion reflecting comparable sales increase in the mid-single digits.

Analog Devices, Inc. (ADI) slumped 2.6% or $1.05 to $39.07 after the electronic chip maker reported revenue in the fourth quarter ending on November 3 slid 3% to $695 million from $716.1 million in the same period of last year. Net income in the quarter dropped 2% to $179.2 million or 58 cents a diluted share compared to $183.5 million or 56 cents a share a year ago.

The company expects revenue for the first quarter to decrease in the range of 6% to 12%.and estimated diluted earnings per share between 40 cents and 48 cents.

CGI Group Inc. (GIB) slid 12 cents to $24.10 after the Canada based outsourcing solution provider reported revenue in the fourth quarter ending in September climbed 60% to $1.61 billion from $1 billion in the same period of last year. Net loss in the quarter swung to $167.9 million or 58 cents a diluted share compared to net income of $69.5 million or 26 cents a share a year ago quarter.

Express, Inc. (EXPR) surged 12.8% or $1.67 to $14.66 after the specialty apparel retailer stated sales in the third quarter ending on October 27 slipped 4% to $468.5 million from $486.8 million in the same period of last year. Comparable sales in the quarter decreased 5%.

Net income in the quarter declined 38% to $17.4 million or 20 cents a diluted share compared to $32.7 million or 37 cents a share a year ago period.

The retailer revised its fourth quarter guidance and now expects comparable sales to decrease low single digits and net income between $53 million and $58 million and diluted earnings per share in the range of 62 cents to 68 cents.

Green Mountain Coffee Roasters, Inc. (GMCR) soared 23.5% or $6.78 to $35.73 after the specialty coffee maker reported net sales in the fourth quarter ending on September 29 climbed 33% to $946.7 million from $711.9 million in the same period of last year. Net income in the quarter jumped 22% to $91.9 million or 58 cents a diluted share compared to $75.4 million or 47 cents a share a year ago.

The company said for the quarter single serve packs business jumped 47% to $700 million and brewers and accessories climbed 30% to $150 million while other products and royalties declined by 21% to $96.4 million.

The coffee maker expects fiscal first quarter 2013 net sales growth in the range of 14% to 18% and non GAAP earnings per diluted share in the range of 62 cents to 67 cents.

For the fiscal 2013, the company expects net sales increase between 15% and 20% and non-GAAP earnings per diluted share in a range of $2.64 to $2.74.

Jos. A. Bank Clothiers, Inc. (JOSB) plunged 10.9% or $5.13 to $42.10 after the apparel retailer said net sales in the third quarter ending on October 27 advanced 11% to $232.9 million from $209.6 million in the same period of last year. Comparable sales in the quarter grew 4.8%.

Net income in the quarter dropped 11% to $13.3 million or 47 cents a diluted share compared to $15 million or 54 cents a share a year ago earlier.

Movado Group, Inc (MOV) jumped 7.2% or $2.35 to $34.58 after the watches maker reported net sales in the third quarter ending in October increased 12% to $160.2 million from $142.6 million in the same period of last year. Net income in the quarter soared 110% to $34.5 million or $1.34 a diluted share compared to $16.4 million or 65 cents a share a year ago period.

Movado said gross profit in the quarter surged 56.4% to $90.4 million.

For fiscal 2013, the company lifted outlook for the net sales and now expects to increase about 10% to $510 million and adjusted net income to increase nearly 66% to $38.5 million or approx $1.50 per diluted share.

PVH Corporation (PVH) increased 2.1% or $2.32 to $111.61 after the apparel and accessories maker reported total revenue in the fourth quarter ending on October 28 slid 3% to $1.64 billion from $1.65 billion in the same period of last year. Net income in the quarter surged 2% to $165.4 million or $2.24 a diluted share compared to $112.2 million or $1.54 a share a year ago.

For the fourth quarter, the company currently projected revenue to increase 4% to 5% and non GAAP basis earnings per share quarter expected to be in the range of $1.48 to $1.49.

The Fresh Market, Inc. (TFM) tumbled 17.1% or $10.33 to $49.91 after the grocery retailer said net sales in the third quarter ending on October 28 surged 22% to $321.5 million from $263.3 million in the same period of last year. Comparable sales in the quarter jumped 5.6%.

Net income in the quarter climbed 19% to $10.9 million or 23 cents a diluted share compared to $9.2 million or 19 cents a share a year ago earlier.

For fiscal 2012, the retailer now expects comparable store sales to increase 5.5% to 6.5% and diluted earnings per share in the range of $1.33 to $1.38.

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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