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Market Update

U.S. Movers: Gap, Foot Locker, Nordson, Ross Stores, Salesforce, Sears


Author: Mukesh Buch
ticker.com
Last Update: 11:36 AM ET May 24 2013

11:25 AM New York Aeropostale net swung to loss. Gap sales and profit jumped. Foot Locker comparable store sales jumped. Nordson sales soared and lifted outlook. Ross Stores net climbed 12%. Salesforce.com sales jumped but net loss widened. Sears net swung to loss as comparable store sales dropped.

Abercrombie & Fitch Co. (ANF) plunged 9.8% or $5.35 to $48.97 after the specialty retailer net sales in the first quarter ending on May 4 tumbled 9% to $838.8 million. Comparable store sales declined to 17%.

Net loss in the quarter narrowed to $7.2 million or 9 cents a diluted share compared to $21.3 million or 25 cents.

The company added gross profit up 2% to $553.2 million and operating loss narrowed to $13.9 million. For the second quarter, the company expects diluted earnings per share in the range of 28 cents to 33 cents.

For the full year, the company expects diluted earnings per share between $3.15 and $3.25.

Aeropostale, Inc. (ARO) plummeted 9.1% or $1.47 to $15.01 after the specialty retailer reported revenues in the first quarter ending on May 4 declined 9% to $452.3 million. Comparable store sales dropped to 14%.

In the net swung to loss of $12.2 million or 16 cents a diluted share compared to net profit of $10.6 million or 13 cents. The company added gross profit slumped 27% to $101.4 million.

For the second quarter, Aeropostale expects diluted earnings per share loss in the range of 15 cents to 20 cents.

The Gap, Inc (GPS) slipped 2.3% or 98 cents to $40.37 after the specialty apparel retailer stated net sales in the first quarter ending on May 4 advanced 7% to $2.73 billion. Comparable store sales increased to 2%.

Net income in the quarter surged 43% to $333 million or 71 cents a diluted share compared to $233 million or 47 cents.

For the quarter, gross profit jumped 12% to 1.54 billion and operating income climbed 42% to $530 million.

For the full-year, Gap reaffirmed diluted earnings per share between $2.52 and $2.60.

Foot Locker, Inc (FL) declined 7.2% or $2.57 to $33.12 after athletic shoes and apparel retailer reported total sales in the first quarter ending on May 4, grew 3.8% to $1.64 billion. Comparable store sales jumped to 5.2%.

Net income for the quarter climbed 7.8% to $138 million or 90 cents a diluted share compared to $128 million or 83 cents.

Hormel Foods Corporation (HRL) slid 1 cent to $41.25 after the food processing company said net sales in the second quarter ending on April 28 jumped 13% to $2.15 billion. Net income in the quarter lowered 2% to $125.5 million or 46 cents a diluted share compared to $127.9 million or 48 cents.

Hibbett Sports, Inc (HIBB) dropped 5.4% or $3.26 to $57.12 after the sporting goods retail stated total sales in the first quarter ending on May 4, rose 3% to $240 million. Comparable store sales edged up to 0.8%.

Net income for the quarter slid $26.2 million or $1 a diluted share compared to $26.4 million or 98 cents.

For the year, Hibbett expects to report diluted earnings per share in the range of $2.85 to $3.05.

Mentor Graphics Corporation (MENT) gained 1.4% or 26 cents to $18.38 after the automation tools supplier reported net sales in the first quarter ending in April gained 9% to $226.5 million. Net income in the quarter tumbled 99% to $0.21 million or 1 cent a diluted share compared to $28.2 million or 25 cents.

For the second quarter, the company expects revenues approx $245 million and non GAAP earnings per share of about $0.17 and GAAP earnings per share approx $0.14.

For the full-fiscal year, the company expects revenues about $1.155 billion and non-GAAP earnings per share about $1.55 and GAAP earnings per share approx $1.33.

Nordson Corporation (NDSN) slumped 5.5% or $4.35 to $68.88 after the home repair equipment maker stated net sales in the second quarter ending in April soared 21% to $382 million. Net income in the quarter jumped 6% to $55 million or 84 cents a diluted share compared to $52 million or 77 cents.

For the quarter, operating profit rose 7% to $82 million.

For the third quarter, Nordson expects sales in the range of $404 million to $419 million or increase to 6% to 10% and diluted earnings per share between $1 and $1.09.

Pandora Media, Inc. (P) climbed 4.6% or 79 cents to $17.95 after the online radio operator said net sales in the first quarter ending in April surged 55% to $125.5 million. Net loss in the quarter narrowed to $20.2 million or 12 cents a diluted share compared to $28.6 million or 16 cents.
For the second quarter, the company expects Non-GAAP revenue in the range of $155 million to $160 million and Non-GAAP diluted earnings per share between 2 cents and 1 cent.

For the year, the company expects Non-GAAP revenue is between $615 million and $635 million and Non-GAAP earnings per share in the range of 2 cents to 8 cents.

Ross Stores, Inc. (ROST) increased 1.5% or 99 cents to $66.07 after the apparel retailer stated net sales in the first quarter ending on May 4 grew 8% to $2.54 billion. Comparable store sales rose to 3%.

Net earnings in the quarter climbed 12% to $234.6 million or $1.07 a diluted share compared to $208.6 million or 93 cents.

For the second quarter, the Ross expects earnings per share are in the range of 89 cents to 93 cents.

For the year, the company expects earnings per share between $3.70 and $3.81.

rue21, Inc (RUE) rose 7 cents to $42.03 after the specialty apparel retailer agreed to go private in about $1.1 billion deal with Apax Partners, a private equity firm. Apax will pay $42 per share, a premium of approximately 23% to yesterday''s closing share price.

Salesforce.com, Inc (CRM) plunged 7.7% or $3.54 to $42.13 after the cloud computing solutions provider reported net sales in the first quarter ending in April jumped 28% to $893 million. Net loss widened to $67.7 million or 12 cents a diluted share compared to $19.5 million or 4 cents.

For the second quarter, the company expects in the range of $931 million to $936 million or increase of 27% to 28% and GAAP diluted per share loss between 7 cents to 6 cents and non-GAAP diluted earnings per share in the range of 11 cents to 12 cents.

For the year, the company expects revenue in the range of $3.84 billion to $3.88 billion or increase of 26% to 27% and GAAP diluted earning per share loss between 33 cents to 31 cents non-GAAP diluted earnings per share between 47 cents and 49 cents.

Sears Holdings Corporation (SHLD) tumbled 16.2% or $9.43 to $48.84 after the retailer stated net sales in the first quarter ending on May 4 jumped 9% to $8.45 billion. Comparable store sales declined to 3.6%.

In the net swung to loss of $279 million or $2.63 a diluted share compared to net profit of $189 million or 1.78.

Gross margin in the quarter tumbled 16% to $2.16 billion.

Williams-Sonoma, Inc. (WSM) slipped 2.2% or $1.27 to $55.40 after the specialty retailer net sales in the first quarter ending on May 5 climbed 8.6% to $888 million. Comparable store sales grew to 7.2%.

Net income in the quarter surged 29% to $39.5 million or 40 cents a diluted share compared to $30.7 million or 30 cents.

For the second quarter, the company expects net revenues in the range of $920 million to $940 million and comparable brand revenue increase between 4% and 6% and diluted earnings per share in the range of 43 cents to 46 cents.

For the year, the company expects net revenues in the range of $4.22 billion to $4.30 billion and comparable brand revenue increase between 4% and 6% and diluted earnings per share in the range of $2.67 to $2.77.

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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