Earnings

Tiffany Earnings Preview: Revenue Growth, EPS Decline Expected

Nelson Hem — Sat, 25 May 2013 13:35:26 +0000

Luxury spending bellwether Tiffany & Co. (NYSE: TIF), which recently announced its 12th dividend increase in the past 11 years, is scheduled to report its first-quarter fiscal 2013 results Tuesday, May 28, before the markets open.

Growth has slowed in recent quarters for luxury retail stocks such as Tiffany. Investors in a company selling high-end products in a sluggish economy may be looking for more than a six percent dividend boost, considering Coach (NYSE: COH) recently raised its quarterly dividend by more than 12 percent.

Expectations

Analysts on average predict that Tiffany will report that revenue for the quarter rose more than four percent year-over-year to $855.16 million. But per-share earnings are expected to come to $0.52, down from $0.64 per share in the same quarter of last year.

Note that 60 days ago the consensus earnings estimate $0.58 per share, and that Tiffany fell short of earnings per share (EPS) expectations in all but one of the past five three quarters. The earnings beat back in the fourth quarter, which included the holiday season, was by about three percent.

Sales growth in the Asia Pacific region, particularly in China, helped boost the fourth-quarter results. But gross margins fell, due in part to precious metal and diamond costs. Tiffany forecast net earnings growth of six to nine percent and healthy free cash flow in 2013. The share price slipped a bit following ...

The Week Ahead: Tiffany, Avago Technologies and The Fresh Market Report Earnings; Key Economic Data on Tap

Scott Rubin — Sat, 25 May 2013 00:38:33 +0000

The final week of May will be critical for the markets as volatility hit a number of regional stock indices this week, although the United States was largely spared.

For the week, the S&P 500 lost a little better than 1 percent, but this paled in comparison to losses in Japan, where the Nikkei fell more than 7 percent on Thursday. Traders will be watching earnings announcements from the likes of Tiffany (NYSE: TIF), Michael Kors (NASDAQ: KORS), Dollar General (NYSE: DG), The Fresh Market (NASDAQ: TFM), Avago Technologies (NASDAQ: AVGO), Costco (NASDAQ: COST), and Guess? (NYSE: GES), among others.

On the economic front, consumer confidence numbers for the month of May will be out on Tuesday. Other domestic reports that will be of interest to the market include jobless claims and the second GDP estimate, both of which are due out on Thursday. Pending home sales data will also be due out on Thursday. On Friday, key economic reports include Chicago PMI and the final reading of the University of Michigan Consumer Sentiment index.

Earnings

On Tuesday, May 28, luxury retailer Tiffany is expected to release its quarterly earnings results prior to the opening bell. Heading into the report, Wall Street analysts have consensus EPS estimates of $0.52, representing a year over year decline of almost 19 percent compared to the $0.64 the company reported in last year's corresponding period. Sales are expected to be up 4.40 percent to $855.14 million.

Shares closed Friday's trading session essentially flat at $76.21. Year-to-date, Tiffany has risen nearly 33 percent on the back of a strong market.

In a client note from Thursday, analysts at Deutsche Bank noted that the company previously guided for net earnings from operations to fall around 15 to 20 percent due to gross margin ...

Market Wrap for Friday, May 24: Stocks Close Week Near Unchanged Mark

Scott Rubin — Fri, 24 May 2013 20:20:46 +0000

A day after a sell-off hit much of the world, but spared the United States, the U.S. market was essentially flat on the last trading session of the week. Although there are signs that a pullback may be imminent, investors continue to pour money into U.S. stocks on expectations that the bull market will continue. Although the S&P 500 finished slightly lower on the week, the widely watched average is already up a little less than 16 percent in 2013.

Major Averages

The Dow Jones Industrial Average climbed a little less than 9 points, or 0.06 percent, to 15,303.

The S&P 500 fell around 1 point, or 0.06 percent, to 1,650.

The Nasdaq lost less than a point, or 0.01 percent, to close at 3,459.

Durable Goods

Durable goods orders rose 3.3 percent in April after falling 5.9 percent for March. This came in ahead of the consensus which expected durable goods orders to rise 1.6 percent.

Excluding transportation, durable goods orders increased 1.3 percent in April after falling 1.7 percent in March. This compared to consensus estimates calling for an increase in durable goods for April of 0.5 percent.

Commodities

Energy prices were mixed to end the trading week. Late in the day, NYMEX crude futures were down 0.32 percent to $93.95. Brent contracts were last up 0.11 percent to $102.55. Natural gas fell around 0.59 percent on the day and was last trading at $4.24.

Precious metals were marginally lower on the session. Heading ...

Aeropostale and Abercrombie Both Fall After Earnings

Scott Rubin — Fri, 24 May 2013 19:21:06 +0000

Earnings from both Aeropostale (NYSE: ARO) and Abercrombie & Fitch (NYSE: ANF) suggest that current conditions in the teen and young-adult retail space are challenging from an operational perspective. Aeropostale released its fiscal first-quarter earnings results after the closing bell on Thursday, while Abercrombie released its Q1 results prior to the open on Friday.

Both stocks were down sharply during Friday's trading session, with ARO down more than 10 percent and ANF off by almost 7 percent. While both stocks are up year-to-date, they have been underperforming the broader market. Aeropostale has added a little less than 14 percent so far in 2013 while ANF is up 5 percent.

For the first-quarter, Aeropostale topped Wall Street earnings and revenue estimates, but the company's second-quarter guidance was substantially below current estimates.

For Q1, Aeropostale reported a net loss of $12 million or $0.16 per share, compared to net income of $10.6 million or $0.13 per share, in last year's corresponding period. This came in slightly ahead of street consensus EPS estimates calling for a loss ...

Mid-Day Market Update: Infoblox Jumps On Upbeat Results, Sears Declines

Jake L'Ecuyer — Fri, 24 May 2013 16:56:34 +0000

Midway through trading Friday, the Dow traded down 0.20 percent to 15,264.01, while the NASDAQ fell 0.29 percent to 3,449.33. The S&P was also down, declining 0.31 percent to 1,645.38.

Top Headline
Yesterday, Pandora Media (NYSE: P) reported upbeat revenue for the first quarter. Pandora posted a quarterly net loss of $28.6 million, or $0.16 per share, versus a year-ago loss of $20.2 million, or $0.12 per share. Excluding one-time items, Pandora lost $0.10 per share. Its revenue surged 55% to $126 million. However, analysts were expecting a loss of $0.10 per share on revenue of $124 million.

Equities Trading UP
Infoblox (NYSE: BLOX) shot up, gaining 12.34 percent to $24.72, after the company reported upbeat Q3 results. Dean Foods Company (NYSE:

Mid-Morning Market Update: Markets Fall, Pandora Posts Higher Revenue

Jake L'Ecuyer — Fri, 24 May 2013 14:36:12 +0000

Following the market opening Friday, the Dow traded down 0.26 percent to 15,255.34, while the NASDAQ fell 0.55 percent to 3,444.19. The S&P was also down, declining 0.47 percent to 1,642.82.

Equities Trading UP
Infoblox (NYSE: BLOX) shot up, gaining 15.55 percent to $25.42, after the company reported upbeat Q3 results. Pandora Media was also up ...

Abercrombie & Fitch Shrinks on Dry Earnings, Unstylish Guidance

Clay Wyatt — Fri, 24 May 2013 13:47:22 +0000

Abercrombie & Fitch Co. (NYSE: ANF) has taken a nosedive on Friday after posting woeful first-quarter results and very weak 2013 guidance.

The New Albany, Ohio-based firm's net loss per share declined from $0.25 in Q1 2012 to $0.09, but missed the Wall Street consensus of $0.05.

Revenue dropped nine percent year-over-year to $838.77 million, falling drastically short of the $941.66 million analysts expected.

A&F, Hollister Unfashionable

The Abercrombie & Fitch and Hollister brands tanked during the quarter, with sales falling 13 and 18 percent, respectively. Abercrombie kids fell, as well, albeit by a more modest five percent.

Overall, comparable store sales plunged 17 percent while direct-to-consumer sales dipped six percent.

The lower sales are in line with the relatively cold winter and cool start to spring the US experienced in 2013, which drove down sales for numerous other clothing retailers. American Eagle (NYSE:

National Bank of Canada Posts 6% Rise In FQ2 Operating Profit, Lifts Dividend

Lisa Levin — Fri, 24 May 2013 12:25:07 +0000

National Bank of Canada (OTC: NTIOF) reported a 6% rise in its fiscal second-quarter operating profit and raised its quarterly dividend by 5%.

The bank's quarterly profit from ongoing operations jumped ...

UPDATE: Hibbett Sports Posts Lower Q1 Earnings

Lisa Levin — Fri, 24 May 2013 11:47:17 +0000

Hibbett Sports (NASDAQ: HIBB) reported a 0.6% drop in its fiscal first-quarter earnings.

Hibbett's quarterly profit fell to $26.2 million, from $26.4 million, in the ...

UPDATE: Abercrombie & Fitch Posts Q1 Loss

Lisa Levin — Fri, 24 May 2013 11:21:23 +0000

Abercrombie & Fitch Co (NYSE: ANF) reported a loss in the first quarter.

Abercrombie & Fitch posted a quarterly loss of $7.2 million, or $0.09 per share, versus a ...

UPDATE: Foot Locker Posts Higher Q1 Profit

Lisa Levin — Fri, 24 May 2013 11:14:05 +0000

Foot Locker (NYSE: FL) reported a rise in its first-quarter profit.

Foot Locker's quarterly profit surged to $138 million, or $0.90 per share, versus $128 ...

Aeropostale Falls on Weak Q2 Guidance; Q1 Results Top Estimates

Scott Rubin — Fri, 24 May 2013 10:10:27 +0000

Clothing retailer Aeropostale (NYSE: ARO) released its fiscal first-quarter earnings results after the closing bell on Thursday. In late trading the stock was last down around 4 percent to $15.85. The company topped Wall Street earnings and revenue estimates, but issued second-quarter guidance which was substantially below current consensus.

Benzinga Market Primer: Friday May 24

Tim Parker — Fri, 24 May 2013 10:03:57 +0000

The buy on the dip mentality seems to be alive and well in this market as the Dow erased a loss of more than 120 points to end close to flat on the day. Let’s not forget that this is a market that found a way to attract buyers on a day when the Nikkei was down more than 7 percent and took most of the global markets with it.

This morning, markets around the world are quiet with most major averages near the flat line.

Morning News

S&P 500 futures are down nearly 3 points to 1647.25

The EUR/USD was up at 0.38 percent to 1.2984

German 10-year government bond yields are unchanged at 1.466 percent.

Italian 10-year government bond yields rose nearly 1 basis point to 4.014 percent.

Gold was down 0.47 percent to $1,386.60 per ounce.

St. Louis Fed President James Bullard told CNBC that inflation needs to move closer to target before QE is tapered.

The Nekkei saw extreme volatility once again. Up more than 2 percent close to its open, it closed up just shy of 1 percent.

ECB head, Mario Draghi said that the euro zone was more stable than one year ago and that the region needed more integration with the U.K. as a part of that, according to

Earnings Scheduled For May 24, 2013

Monica Gerson — Fri, 24 May 2013 08:07:50 +0000

Foot Locker (NYSE: FL) is projected to report its Q1 earnings at $0.88 per share on revenue of $1.63 billion.

Abercrombie & Fitch Co (NYSE: ANF) is expected to post a Q1 loss at $0.05 per share on revenue of $941.66 million.

Hibbett Sports (NASDAQ: HIBB) is estimated to report its Q1 earnings at $1.07 per share on revenue of $246.41 ...

Stocks To Watch For May 24, 2013

Monica Gerson — Fri, 24 May 2013 08:03:14 +0000

Some of the stocks that may grab investor focus today are:

Wall Street expects Abercrombie & Fitch Co (NYSE: ANF) to post a Q1 loss at $0.05 per share on revenue of $941.66 million. Abercrombie & Fitch shares fell 0.68% to $54.00 in after-hours trading.

Pandora Media (NYSE: P) posted a Q1 adjusted loss of $0.10 per share on revenue of $125.5 million. However, analysts were expecting a loss of $0.10 per share on revenue of ...