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Market Update

U.S. Movers: Global Partners, Hot Topic, Buckle, Menís Wearhouse


Author: Mukesh Buch
ticker.com
Last Update: 10:59 AM ET March 14 2013

10:55 AM New York Ė Global Partners fourth quarter net surged 126% and Hot Topic net jumped 35%. Buckle fourth quarter net climbed 9% to $61.4 million and Menís Wearhouse net loss narrowed. Vera Bradley net climbed 25%.

Global Partners LP (GLP) gained 2.5% or 91 cents to $36.71 after the petroleum products distributor reported sales in the fourth quarter ending in December jumped 25% to $5.12 billion from the same period of last year. Net income in the quarter surged 126% to $22.3 million or 81 cents a diluted share compared to $9.8 million or 45 cents a share a year ago.

Hot Topic, Inc (HOTT) slid 2 cents to $13.84 after the specialty retailer reported revenue in the fourth quarter ending on February 2 surged 11% to $233 million from the same period of last year. The company comparable sales increased 2.6%.

Net income in the quarter jumped 35% to $12.1 million or 29 cents a diluted share compared to $9 million or 21 cents a share a year ago.

Northern Tier Energy LP (NTI) slipped 3.5% or $1.12 to $30.58 after the energy company stated revenue in the fourth quarter ending in December advanced 14% to $1.24 million from the same period of last year. The company comparable sales in the quarter rose 2.6%.

Net income in the quarter plunged 71% to $84.5 million or 92 cents a diluted share compared to $292.7 million or $1.38 a share a year ago.

Summit Midstream Partners, LP (SMLP) dropped 5.6% or $1.44 to $24.29 after the energy infrastructure provider reported revenues in the fourth quarter ending in December surged 23% to $48.6 million from the same period of last year. Net income in the quarter jumped 73% to $17.6 million or 35 cents a diluted share compared to $10.2 million or break even share a year ago.

The Buckle, Inc (BKE) increased 1.3% or 63 cents to $47.90 after the apparel retailer said net sales in the fourth quarter ending on February 2 climbed 7% to $360.6 million from the same period of last year. The company comparable sales in the quarter were flat.

Net income in the quarter climbed 9% to $61.4 million or $1.28 a diluted share compared to $56.1 million or $1.18 a share a year ago period.

The Menís Wearhouse, Inc (MW) surged 16.5% or $4.81 to $33.88 after the apparel retailer stated net sales in the fourth quarter ending on February 2 climbed 8% to $608.4 million from the same period of last year. The company comparable sales in the quarter increased 1.5%.

Net loss in the quarter narrowed to $3.4 million or 7 cents a diluted share compared to $3.8 million or 7 cents a share a year ago period.

For the fiscal year, the company expects GAAP diluted earnings per share in a range of $2.70 to $2.80 an increase of 5.9% to 9.8% and total sales to increase 2.85% to 3.85%.

Vera Bradley, Inc. (VRA) plunged 8% or $1.99 to $22.90 after the womenís accessory retailer reported net revenues in the fourth quarter ending on February 2 jumped 21% to $162.6 million from the same period of last year. Net income in the quarter climbed 25% to $25.1 million or 62 cents a diluted share compared to $20.1 million or 50 cents a share a year ago.

For the first quarter, the retailer expects net revenues between $120 million and $122 million and diluted earnings per share in the range of 20 cents to 22 cents.

For the year, the company expects net revenues in the range of $585 million to $590 million and diluted earnings per share between $1.83 and $1.88.

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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