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Market Update

U.S. Movers: AutoZone, Best Buy, Dick's Sporting, Home Depot, TJX


Author: Mukesh Buch
ticker.com
Last Update: 11:44 AM ET May 21 2013

11:35 AM New York – AutoZone first quarter net jumped 7% and Best Buy net swung to a loss. Dick''s Sporting, TJX and Saks net soared 13% and Urban Outfitters net soared 39%. Home Depot net advanced 19%. TiVo net increased 13%.

AutoZone, Inc. (AZO) climbed 3.3% or $13.65 to $422.70 after the automotive parts and accessories retailer said net sales in the third quarter ending on May 4 grew 5% to $2.21 billion. Domestic store sales for the quarter fell 0.1%.

Net income in the quarter jumped 7% to $265.6 million or $7.27 a diluted share compared to $248.6 million or $6.28.

For the quarter, gross profit increased 5% to $1.14 million and operating profit climbed 7% to $456 million.

Best Buy Co., Inc. (BBY) declined 4.6% or $1.20 to $25.61 after the retailer reported net sales in the first quarter ending on May 4 declined 10% to $9.38 billion. Domestic store sales for the quarter decreased 1.1%.

In the quarter net swung to a loss of $81 million or 24 cents a diluted share compared to net earnings of $158 million or 46 cents.

The company added gross profit dropped 16% to $2.17 billion and operating income plunged 36% to $168 million.

Dick''s Sporting Goods, Inc. (DKS) gained 34 cents to $52.55 after the sporting goods retailer stated net sales in the first quarter ending on May 4 rose 4% to $1.33 billion. Consolidated same store sales declined 3.8%.

Net income in the quarter climbed 13% to $64.8 million or 52 cents a diluted share compared to $57.2 million or 45 cents.

For the full-year, the Dick’s expects consolidated non-GAAP diluted earnings per share between $2.84 and $2.86.

Monro Muffler Brake, Inc. (MNRO) soared 8.8% or $3.85 to $47.96 after the automotive repairing service provider said sales in the fourth quarter ending in March climbed 14.1% to $195.9 million. Comparable store sales for the quarter declined 11.4%.

Net income in the quarter plunged 22.7% to $8.13 million or 25 cents a diluted share compared to $10.5 million or 33 cents.

The company anticipates fiscal 2014 sales in the range of $840 to $865 million and comparable store sales expected increases between 2.5% and 4.5%. Diluted earnings per share are expected to be in the range of $1.65 to $1.80.

Saks Inc (SKS) surged 7.6% or 92 cents to $13.20 after the department store retailer net sales in the first quarter ending on May 4 increased 5.3% to $793.2 million. Comparable store sales in the quarter jumped 5.9%.

Net income in the quarter surged 13% to $20 million or 13 cents a diluted share compared to $32.1 million or 18 cents.

The Home Depot, Inc (HD) jumped 2% or $1.60 to $78.36 after the home improvement retailer reported sales in the first quarter ending on May 5 jumped 7.4% to $19.1 billion. Comparable store sales for the quarter increased 4.3% and comparable sales for U.S. stores climbed 4.8%

Net earnings for the quarter climbed 18.5% to $1.23 billion or 83 cents per diluted share compared to $1.04 billion or 68 per share.

The company lifted its full year sales guidance and now expects sales to grow nearly 2.8% and comparable store sales increase 4% and diluted earnings per share for the year to climb 17% to $3.52.

The TJX Companies, Inc (TJX) rose 1 cent to $51.35 after the apparel and home fashions retailer stated net sales in the first quarter ending on May 4 advanced 7% to $6.2 billion. Comparable store sales for the quarter increased 2%.

Net income in the quarter surged 13% to $453 million or 62 cents a diluted share compared to $419 million or 55 cents.

For the second quarter, the Company expects diluted earnings per share in the range of $0.61 to $0.63.

TiVo Inc. TIVO)) climbed 4.3% or 54 cents to $13.20 after the software and technology services provider said net revenue in the first quarter ending in April soared $82.6 million. Net loss in the quarter narrowed to $10.3 million or 9 cents a diluted share compared to $20.8 million or 17 cents.

Service & technology revenue in the first quarter increased 13% to $61.8 million and MSO revenue surged 98%.

Virgin Media added 172,000 TiVo subscriptions, an increase of 40%. In Spain, ONO recently said its TiVo subscription base climbed 68% to 166,000, from three months ago.

Urban Outfitters, Inc (URBN) slipped 1.2% or 55 cents to $43.94 after the specialty retailer reported net sales in the first quarter ending in April climbed 14% to $648 million.

Comparable retail segment net sales including direct-to-consumer channel rose 9% and comparable retail segment net sales jumped 44% and wholesale segment net sales rose 16%.

Net income in the quarter surged 38.5% to $47.1 million or 32 cents a diluted share compared to $34 million or 23 cents.

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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