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Market Update

U.S. Movers: Brown Shoe, Chico’s, DSW, EnerSys, Fresh Market, Movado


Author: Mukesh Buch
ticker.com
Last Update: 11:51 AM ET May 29 2013

11:25 AM New York – Chico’s net slid and quarterly comparable sales were flat. DSW net plunged 14%. EnerSys sales and net dropped. Fresh Market net jumped and lifted outlook. Service Corp agreed to buy Stewart Enterprises for $1.4 billion. United Natural Foods revenue and profit climbed.

Brown Shoe Company, Inc. (BWS) climbed 9.6% or $1.78 to $20.31 after the footwear retailer reported net sales in the first quarter ending on May 4 slid 2% to $588.7 million. In the quarter, net swung to a loss of $10.8 million or 26 cents a diluted share compared to net profit of $1.7 million or 4 cents.

Gross profit in the quarter increased 2% to $240 million and operating earnings soared 67% to $21 million.

For the year, the retailer expects diluted earnings per share in the range of 63 cents to 70 cents and adjusted earnings per share between $1.22 and $1.29 and consolidated net sales in the range of $2.54 billion to $2.57 billion.

Chico’s FAS, Inc (CHS) declined 7.4% or $1.44 to $17.90 after the specialty retailer said total net sales in the first quarter ending on May 4 grew 3% to $670.7 million. Comparable store sales were flat.

Net income in the quarter fell 4% to $51.7 million or 32 cents a diluted share compared to $54 million or 32 cents.

For the first quarter, gross margin increased 2% to $386.8 million.

DSW Inc. (DSW) jumped 4.3% or $3.02 to $73 after the footwear and accessories specialty retailer stated sales in the first quarter ending on May 4 climbed 8% to $601.4 million. Comparable store sales decreased to 2.4%.

Net income in the quarter plunged 14% to $34.5 million or 75 cents a diluted share compared to $39.9 million or 89 cents.

For the year, DSW estimated diluted earnings per share in the range of $3.40 to $3.60.

EnerSys (ENS) gained 1.2% or 61 cents to $49.88 after the batteries maker stated net sales in the fourth quarter ending in March slid 4% to $572.2 million. Net earnings in the quarter plunged 17% to $37.7 million or 77 cents a diluted share from $45.4 million or 94 cents.

The company added gross profit decreased 4% to $139.1 million.

For the first quarter, the company expects adjusted diluted earnings per share in the range of 78 cents to 82 cents.

The Fresh Market, Inc (TFM) surged 12.7% or $5.90 to $52.26 after the specialty retailer stated net sales in the third quarter ending in March jumped 13% to $366.6 million. Comparable store sales increased 3%.

Net income in the quarter soared 15% to $22.1 million or 46 cents a diluted share compared to $19.3 million or 40 cents.

The company added gross profit surged 15% to $129.3 million and operating income soared 14% to $35.4 million.

For the year, the company expects diluted earnings per share in the range of $1.51 to $1.58 and comparable store sales between 2.5% and 4.5%.

Guidewire Software, Inc. (GWRE) climbed 3% or $1.24 to $42.03 after the software provider reported total revenues in the third quarter ending in April jumped 20% to $68.3 million. In the quarter net swung to a loss of $2.67 million or 5 cents a diluted share compared to net profit of $3.15 million or 5 cents.

Movado Group, Inc (MOV) rose 1.8% or 62 cents to $35.02 after the watches distributor stated total revenues in the first quarter ending in April grew 6% to $440 million. Net income in the quarter soared 24% to $8.2 million or 32 cents a diluted share compared to $6.6 billion or 26 cents.

For the year, the company expects net sales in the range of $570 million to $575 million or increase approx 12% and net income increase to about $48 million or $1.80.

RBC Bearings Incorporated (ROLL) increased 1.3% or 64 cents to $48.16 after the roller and ball bearings maker reported net sales in the fourth quarter ending in March tumbled 8% to $103 million. Net income in the quarter slumped 32% to $10.6 million or 46 cents a diluted share compared to $15.5 million or 69 cents.

The company added operating income in the quarter plunged 35% to $15.8 million and gross margin decreased 1% to $40.7 million.

Stewart Enterprises, Inc (STEI) surged 34.1% or $3.32 to $13.06 after the funeral and cemetery products provider will acquired by the death-care products provider Service Corporation International (SCI) for $13.25 a share in cash or enterprise value of $1.4 billion.

Service Corp anticipates closing of the acquisition to complete either by end of this year or in early 2014.

United Natural Foods, Inc (UNFI) dropped 3.7% or $2.10 to $53.54 after the foods distributor said net revenues in the third quarter ending in March climbed 13% to $1.57 billion. Net income in the quarter jumped 9% to $31.6 million or 10 cents a diluted share compared to $29 million or $2.43.

In the quarter, operating income soared 14% to $53.8 million and gross profit jumped 8% to 263 million.

For the year, the company expects GAAP diluted earnings per share in the range of $2.12 to $2.14 or increase to approx 14% to 15.1%.

For the year, the company expects net sales between $6.03 billion and $6.06 billion or increase to about 15.2% to 15.7%.

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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