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Chico's FAS (CHS: news, chart, profile) late Wednesday reported a 28.5 percent jump in fourth-quarter earnings that still fell short of analysts' expectations. See full story.
Christopher & Banks Corp. (CBK: news, chart, profile) said it expects fiscal quarter earnings to range from 28 cents to 30 cents a share against 27 cents a share in the same quarter last year. Three analysts polled by Thomson/First Call project earnings at an average 31 cents a share for the May-ending quarter. For the fiscal fourth quarter, the retailer expects earnings to range from 10 cents to 12 cents a share, in line with its prior outlook. "We finished the year with on plan inventories and are cautiously optimistic as we look forward to the spring selling season," it said. February same-store sales increased percent.
Coach Inc. (COH: news, chart, profile) said spring season results were trending above plan and that it now expects earnings for the second half of its fiscal year will be at least 85 cents a share on sales of at least $800 million compared to earnings of 64 cents a share a year earlier. The revised forecast is above the company's prior guidance for earnings of at least 83 cents a share and the 84 cents average forecast of analysts polled by Thomson First Call.
Express Scripts (ESRX: news, chart, profile) reported fourth-quarter income rose 13 percent, and offered a forecast for the first quarter was above expectations. See full story.
First Horizon Pharmaceutical Corp. (FHRX: news, chart, profile) reported fourth-quarter profits dipped significantly, largely on higher expenses from a build-out of its sales force. See full story.
Fleetwood Enterprises (FLE: news, chart, profile) said its third-quarter loss widened to $54.7 million, or 99 cents a share, from $10.2 million, or 26 cents a share, in the year-earlier quarter, due to severe seasonality impact. The maker of recreational vehicles said sales declined 6 percent to $564.9 million. Looking ahead, the company said it no longer believes it will be profitable in the fourth quarter.
Genesco (GCO: news, chart, profile) said fiscal fourth-quarter earnings rose to $25.7 million, or 98 cents a share, from $16.9 million, or 67 cents a share, with net sales rising 40 percent to $352.8 million. The company said its better-than-expected profits were driven by ongoing improvements in all of its businesses. It also upped its fiscal 2006 view, saying it sees sales in the range of approximately $1.26 billion to $1.28 billion and diluted earnings per share in the range of $2.14 to $2.18 for the year. It's also reviewing lease accounting and may restate past earnings.
Hot Topic Inc. (HOTT: news, chart, profile) said it will restate its 2002, 2003, and 2004 financial reports because of a change in its lease accounting method. It estimates the restatement will reduce previously announced earnings by 1 cent a share a year for 2002-2004, and will lower 2005 earnings by 1 cent a share. It also revised its first-quarter earnings forecast to 11 cents a share. February same-store sales rose 0.2 percent from the same period a year ago to $46 million.
Intel (INTC: news, chart, profile) may be in focus after J.P. Morgan lowered its revenue estimate for the company's first quarter.
J.C. Penney (JCP: news, chart, profile) said February same-store sales increased 6.1 percent. Sales of spring apparel and seasonal products exceeded expectations. For March, the company expects comparable department store sales to be up low-to-mid single digits. Sales expectations reflect the shift of Easter into this year's March period. In last year's March period, comparable department store sales increased 11.4 percent. Shares of the Plano, Texas retailer fell 31 cents to $45.09 on Wednesday.
Jo-Ann Stores (JAS: news, chart, profile) said it restated some financial statements because of a change in its lease accounting method. It said the impact of the adjustments includes a decrease in 2005 income of about $800,000, or 4 cents a share, and a 2004 income decrease of $900,000, or 4 cents share. It said it expects 2003 income to increase by $500,000, or 2 cents a share.
Michaels Stores Inc. (MIK: news, chart, profile) reported fourth-quarter earnings of $111.2 million, or 80 cents a share, vs. $94.6 million or 68 cents a share, a year ago. See full story.
Neiman Marcus Group (NMG.A: news, chart, profile) reported consumers are still buying luxury goods at full prices as evidenced by its 19.2 percent jump in second-quarter profits. See full story.
Nordstrom (JWN: news, chart, profile) reported a 7 percent decline in February same-store sales. The Seattle upscale department store chain's preliminary total monthly sales rose 8.4 percent to $463.2 million from $427.4 million. On Wednesday the company's stock fell 40 cents to $53.91.
NYFIX Inc. (NYFX: news, chart, profile) said it has determined that it incorrectly accounted for certain stock option grants, and would therefore need to restate financial statements for 2002 and 2003, and is evaluating whether it will need to restate results for the nine months ending September 2004. After a review prompted by an inquiry by the U.S. Securities and Exchange Commission, the provider of trading workstations believes compensation expenses primarily for 1999 to 2003 were "materially understated." The company said it also overstated the net loss for the nine months ending September 2003. NYFIX believes the restatements will result in "material weaknesses" under the Sarbanes-Oxley Act of 2002. The stock closed Wednesday down 8 cents at $4.50.
PetsMart Inc. (PETM: news, chart, profile) overcame a slower-than-expected holiday selling season to post a 20 percent gain in fourth-quarter earnings. See full story.
Pier 1 Imports (PIR: news, chart, profile) said it anticipates fourth-quarter earnings in the range of 25 to 27 cents a share, citing weak sales and merchandise margins. The home furnishings retailer posted same-store sales down 15.3 percent in February.
Sharper Image (SHRP: news, chart, profile) reported that its same-store sales results in February fell 9 percent from the year-earlier level. The San Francisco specialty gadgets and electronic goods retailer's total monthly sales decreased 13 percent to $45.4 million from $51.9 million a year before. The company said the year-earlier month benefited from "very significant sales increases." On Wednesday the stock rose 13 cents to $16.05.
The Talbots Inc. (TLB: news, chart, profile) said Thursday same-store sales in February rose 8.1 percent compared with the same period a year ago. Total sales for the period shot up 13 percent to $95 million, buoyed by strength in regular-price selling of its early spring merchandise. Looking ahead, the apparel chain said it expects first quarter earnings in the range of 59 to 63 cents a share. The Thomson First Call average estimate is for 62 cents a share. Shares of The Talbots rose 1.6 percent to $29.37 in trading Wednesday.
Tenet Healthcare (THC: news, chart, profile) said Florida Attorney General Charlie Crist filed a lawsuit against it alleging unfair trade practices and violations of state and federal racketeering laws. See full story.
Viisage Technology (VISG: news, chart, profile) reported a fourth-quarter loss of 11 cents a share on revenue of $19 million. It was expected to report a loss of 9 cents a share on revenue of $18.1 million. For the coming quarter, it forecast revenue of $15 million and $17 million.
Wal-Mart Stores (WMT: news, chart, profile) said same-store sales rose 4.1 percent in February. Total sales for the four weeks ended Feb. 25 jumped 10.9 percent to $22.37 billion from $20.16 billion in the same period a year earlier. Looking ahead, the world's largest retailer said it expects U.S. same-store sales for the March period to be similar or better than its February performance. The stock closed Wednesday at $51.95, down 9 cents.
Chico's FAS (CHS: news, chart, profile) late Wednesday reported a 28.5 percent jump in fourth-quarter earnings that still fell short of analysts' expectations. See full story.
Christopher & Banks Corp. (CBK: news, chart, profile) said it expects fiscal quarter earnings to range from 28 cents to 30 cents a share against 27 cents a share in the same quarter last year. Three analysts polled by Thomson/First Call project earnings at an average 31 cents a share for the May-ending quarter. For the fiscal fourth quarter, the retailer expects earnings to range from 10 cents to 12 cents a share, in line with its prior outlook. "We finished the year with on plan inventories and are cautiously optimistic as we look forward to the spring selling season," it said. February same-store sales increased percent.
Coach Inc. (COH: news, chart, profile) said spring season results were trending above plan and that it now expects earnings for the second half of its fiscal year will be at least 85 cents a share on sales of at least $800 million compared to earnings of 64 cents a share a year earlier. The revised forecast is above the company's prior guidance for earnings of at least 83 cents a share and the 84 cents average forecast of analysts polled by Thomson First Call.
Express Scripts (ESRX: news, chart, profile) reported fourth-quarter income rose 13 percent, and offered a forecast for the first quarter was above expectations. See full story.
First Horizon Pharmaceutical Corp. (FHRX: news, chart, profile) reported fourth-quarter profits dipped significantly, largely on higher expenses from a build-out of its sales force. See full story.
Fleetwood Enterprises (FLE: news, chart, profile) said its third-quarter loss widened to $54.7 million, or 99 cents a share, from $10.2 million, or 26 cents a share, in the year-earlier quarter, due to severe seasonality impact. The maker of recreational vehicles said sales declined 6 percent to $564.9 million. Looking ahead, the company said it no longer believes it will be profitable in the fourth quarter.
Genesco (GCO: news, chart, profile) said fiscal fourth-quarter earnings rose to $25.7 million, or 98 cents a share, from $16.9 million, or 67 cents a share, with net sales rising 40 percent to $352.8 million. The company said its better-than-expected profits were driven by ongoing improvements in all of its businesses. It also upped its fiscal 2006 view, saying it sees sales in the range of approximately $1.26 billion to $1.28 billion and diluted earnings per share in the range of $2.14 to $2.18 for the year. It's also reviewing lease accounting and may restate past earnings.
Hot Topic Inc. (HOTT: news, chart, profile) said it will restate its 2002, 2003, and 2004 financial reports because of a change in its lease accounting method. It estimates the restatement will reduce previously announced earnings by 1 cent a share a year for 2002-2004, and will lower 2005 earnings by 1 cent a share. It also revised its first-quarter earnings forecast to 11 cents a share. February same-store sales rose 0.2 percent from the same period a year ago to $46 million.
Intel (INTC: news, chart, profile) may be in focus after J.P. Morgan lowered its revenue estimate for the company's first quarter.
J.C. Penney (JCP: news, chart, profile) said February same-store sales increased 6.1 percent. Sales of spring apparel and seasonal products exceeded expectations. For March, the company expects comparable department store sales to be up low-to-mid single digits. Sales expectations reflect the shift of Easter into this year's March period. In last year's March period, comparable department store sales increased 11.4 percent. Shares of the Plano, Texas retailer fell 31 cents to $45.09 on Wednesday.
Jo-Ann Stores (JAS: news, chart, profile) said it restated some financial statements because of a change in its lease accounting method. It said the impact of the adjustments includes a decrease in 2005 income of about $800,000, or 4 cents a share, and a 2004 income decrease of $900,000, or 4 cents share. It said it expects 2003 income to increase by $500,000, or 2 cents a share.
Michaels Stores Inc. (MIK: news, chart, profile) reported fourth-quarter earnings of $111.2 million, or 80 cents a share, vs. $94.6 million or 68 cents a share, a year ago. See full story.
Neiman Marcus Group (NMG.A: news, chart, profile) reported consumers are still buying luxury goods at full prices as evidenced by its 19.2 percent jump in second-quarter profits. See full story.
Nordstrom (JWN: news, chart, profile) reported a 7 percent decline in February same-store sales. The Seattle upscale department store chain's preliminary total monthly sales rose 8.4 percent to $463.2 million from $427.4 million. On Wednesday the company's stock fell 40 cents to $53.91.
NYFIX Inc. (NYFX: news, chart, profile) said it has determined that it incorrectly accounted for certain stock option grants, and would therefore need to restate financial statements for 2002 and 2003, and is evaluating whether it will need to restate results for the nine months ending September 2004. After a review prompted by an inquiry by the U.S. Securities and Exchange Commission, the provider of trading workstations believes compensation expenses primarily for 1999 to 2003 were "materially understated." The company said it also overstated the net loss for the nine months ending September 2003. NYFIX believes the restatements will result in "material weaknesses" under the Sarbanes-Oxley Act of 2002. The stock closed Wednesday down 8 cents at $4.50.
PetsMart Inc. (PETM: news, chart, profile) overcame a slower-than-expected holiday selling season to post a 20 percent gain in fourth-quarter earnings. See full story.
Pier 1 Imports (PIR: news, chart, profile) said it anticipates fourth-quarter earnings in the range of 25 to 27 cents a share, citing weak sales and merchandise margins. The home furnishings retailer posted same-store sales down 15.3 percent in February.
Sharper Image (SHRP: news, chart, profile) reported that its same-store sales results in February fell 9 percent from the year-earlier level. The San Francisco specialty gadgets and electronic goods retailer's total monthly sales decreased 13 percent to $45.4 million from $51.9 million a year before. The company said the year-earlier month benefited from "very significant sales increases." On Wednesday the stock rose 13 cents to $16.05.
The Talbots Inc. (TLB: news, chart, profile) said Thursday same-store sales in February rose 8.1 percent compared with the same period a year ago. Total sales for the period shot up 13 percent to $95 million, buoyed by strength in regular-price selling of its early spring merchandise. Looking ahead, the apparel chain said it expects first quarter earnings in the range of 59 to 63 cents a share. The Thomson First Call average estimate is for 62 cents a share. Shares of The Talbots rose 1.6 percent to $29.37 in trading Wednesday.
Tenet Healthcare (THC: news, chart, profile) said Florida Attorney General Charlie Crist filed a lawsuit against it alleging unfair trade practices and violations of state and federal racketeering laws. See full story.
Viisage Technology (VISG: news, chart, profile) reported a fourth-quarter loss of 11 cents a share on revenue of $19 million. It was expected to report a loss of 9 cents a share on revenue of $18.1 million. For the coming quarter, it forecast revenue of $15 million and $17 million.
Wal-Mart Stores (WMT: news, chart, profile) said same-store sales rose 4.1 percent in February. Total sales for the four weeks ended Feb. 25 jumped 10.9 percent to $22.37 billion from $20.16 billion in the same period a year earlier. Looking ahead, the world's largest retailer said it expects U.S. same-store sales for the March period to be similar or better than its February performance. The stock closed Wednesday at $51.95, down 9 cents.
