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STOCK MOVERS

U.S. Movers: Abercrombie, Big Lots, Caleres, Costco, Marvell, Lululemon


Author: Mukesh Buch
ticker.com
Last Update: 12:55 PM EDT June 01 2018

12:45 PM New York City, New York Abercrombie & Fitch beats revenue estimate but the stock still traded down. Big Lots net tumbled 39%. Caleres net soared. Costco reported strong comparable store sales growth. Marvell profit soared on growth in core business. Lululemon surged on strong growth.

Tollbooth Index increased 68.79 0.4% to 15,551.40 but for the year-to-date jumped 12.9%.

Earnings Review

Abercrombie & Fitch Co (ANF) declined 7.8% or $1.86 to $21.99 after the specialty retailer said net sales in the first-quarter ending on May 5 soared 11% from a year ago to $730.9 million.

Comparable store sales in the quarter advanced 5%.

Net loss in the quarter narrowed to $42.5 million or 62 cents per diluted share from $61.7 million or 91 cents in the same quarter last year.

The specialty retailer forecasted fiscal 2018 revenues growth in the range of 2% to 4% and comparable sales to increase in the range of 2% to 4%.

Big Lots, Inc (BIG) plummeted 5.2% or $2.12 to $38.79 after the discount retailer stated net sales in the first-quarter ending on May 5 fell 1.5% from a year ago to $1.3 billion.

Comparable store sales in the quarter surged 9%.

Net income in the quarter tumbled 39.4% to $31.2 million or 74 cents per diluted share from $51.5 million or $1.15 in the same quarter last year.

Caleres Inc (CAL) slid 13 cents to $35.33 after the footwear retailer said net sales in the first-quarter ending on May 5 were flat from a year ago to $632.1 million.

Comparable store sales in the quarter surged 9%.

Net income in the quarter soared 15.4% to $17.2 million or 40 cents per diluted share from $14.9 million or 35 cents in the same quarter last year.

The footwear retailer forecasted fiscal 2018 net sales of about $2.8 billion and Famous Footwear same-store-sale to increase in low-single digits and diluted earnings per share in the range of $2.40 to $2.50.

Costco Wholesale Corporation (COST) fell $1.46 to $196.78 after the general merchandise retailer reported net sales in the first-quarter ending on May 13 surged 12.1% from a year ago to $31.6 billion.

Comparable store sales in the quarter soared 10.2% and online sales advanced 36.8%.

Net income in the quarter jumped 7.1% to $750 million or $1.70 per diluted share from $700 million or $1.59 in the same quarter last year.

Costco said comparable sales in the U.S. based stores jumped 9.7%, comparable sales in Canada based stores advanced 11.3% and comparable sales in the international stores soared 11.8%.

GameStop Corp (GME) edged down 4 cents to $13.16 after the video game, consumer electronics and services retailer said total sales in the first-quarter ending on May 5 declined 5.5% from a year ago to $1.9 billion.

Comparable store sales in the quarter plunged 5.3%, comparable sales in the U.S. decrease 2.6% and comparable sales in the international stores plummeted 11.6%.

Net income in the quarter tumbled 52.2% to $28.2 million or 28 cents per diluted share from $59 million or 58 cents in the same quarter last year.

The retailer said new hardware sales in the quarter plunged 7.9% and new software sales tumbled 10.3%.

Marvell Technology Group Ltd (MRVL) advanced 2.8% or 60 cents to $22.14 after the integrated circuits maker reported revenues in the first-quarter ending on May 5 jumped 5.6% from a year ago to $604.6 million.

Net income in the quarter soared 20.6% to $128.6 million or 25 cents per diluted share from $106.6 million or 21 cents in the same quarter last year.

Lululemon Athletica Inc (LULU) surged 16.1% or $16.89 to $121.94 after the athletic-wear manufacturer and retailer reported net revenues in the first-quarter ending on April 29 surged 25% from a year ago to $649.7 million.

Comparable store sales in the quarter soared 20% and direct to consumer net revenue advanced 62%.

Net income in the quarter more than doubled to $75.2 million or 55 cents per diluted share from $31.2 million or 23 cents in 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