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Market Update

Urban Outfitters Jumps; Barnes & Noble, Casey's, IDT, Korn/Ferry Decline


Author: Mukesh Buch
ticker.com
Last Update: 12:12 PM ET March 10 2015

12:10 PM New York Barnes & Noble net soared 14% and lowered fiscal outlook. Bridgepoint Education net loss increased as revenues decline 9%. Casey''s General Stores profit surged but revenues dropped 7%. IDT net fell 0.8%. Korn/Ferry climbed 8%. Urban Outfitters net plunged 10% but revenues soared 12%.

Tollbooth Index declined 1.2% or 128.86 to 10,548.68.

Earnings Review

Barnes & Noble, Inc (BKS) plunged 5.3% or $1.32 to $23.54 after the bookseller said net sales in the fourth-quarter ending in January fell 1.5% to $1.96 billion form a year ago period. Comparable store sales in the quarter increased 1.7%.

Net income in the quarter soared 14.2% to $72.2 million or 93 cents per diluted share compared to $63.2 million or 86 cents from the same quarter last year.

The retailer forecasted retail comparable bookstore sales for the year to decline in the low-single digits and EBITDA to report losses in the NOOK segment.

Bridgepoint Education Inc (BPI) climbed 4.5% or 42 cents to $9.81 after the educational services provider stated revenues in the fourth-quarter ending in December declined 9.2% to $147.3 million form a year ago period.

Net loss in the quarter edged up to $5.2 million or 12 cents per diluted share compared to $5.1 million or 10 cents from the same quarter last year.

The educational services provider added total student enrollment in the year dropped 12.3% to 55,823 compared to 63,624.

Casey''s General Stores Inc (CASY) plunged 5% or $4.61 to $86.12 after the convenience stores operator reported total revenues in the third-quarter ending in January dropped 6.7% to $1.67 billion form a year ago period.

Net income in the quarter surged 209.4% to $39.3 million or $1.01 per diluted share compared to $12.7 million or 33 cents from the same quarter last year.

IDT Corporation (IDT) tumbled 19.9% or $4.12 cents to $16.57 after the telecommunications company said revenues in the second-quarter ending in December dropped 3% to $394.2 million form a year ago period.

Net income in the quarter fell 0.8% to $2.51 million compared to $2.53 million and diluted earnings per share were flat at 11 cents from the same quarter last year.

Korn/Ferry International (KFY) plunged 7% or $2.24 to $29.56 after the talent management solution provider said total revenues in the third-quarter ending in January jumped 3.2% to $258.9 million form a year ago period.

Net income in the quarter climbed 7.5% to $22.9 million or 46 cents per diluted share compared to $21.3 million or 43 cents from the same quarter last year.

Urban Outfitters, Inc (URBN) surged 9.1% or $3.58 to $43.09 after the specialty retailer reported net sales in the fourth-quarter ending in January soared 12% to $1.01 million form a year ago period.

Comparable retail segment net sales, including direct-to-consumer channel jumped 6% and comparable retail segment net sales surged 18% at Free People, 6% at the Anthropologie Group and 4% at Urban Outfitters.

Net income in the quarter plunged 9.5% to $80.3 million or 60 cents per diluted share compared to $88.7 million or 59 cents from the same quarter last year.

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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