Posts Tagged ‘NYSE’

Guess Inc. (GES) Q1 numbers send shares skyward

Thursday, May 26th, 2011

Guess Inc. (NYSE: GES) shares rose 12.2% to $44.99 a day after the clothing retailer reported first-quarter earnings that beat analysts forecasts. Volume for the stock was 4.1 million shares or quadruple its full-day average.

Wednesday, the Company reported net earnings of $42.7 million, a 15.2% decrease compared to net earnings of $50.3 million for the first quarter of fiscal 2011. Diluted earnings per share decreased 14.8% to $0.46, compared to $0.54 for the prior-year quarter. The current quarter’s earnings per share include $0.09 in net unrealized mark-to-market charges related to foreign currency contracts and balances, while the prior-year quarter’s earnings per share included a $0.04 charge related to the acceleration of pension cost amortization.

Revenues jumped across all operating sectors, with Asian revenues increasing 24%, European revenues growing 12%, North American retail revenues surging 5%, and North American wholesale revenues spiking 7%. Total net revenue for the first quarter of fiscal 2012 increased 9.8% to $592.2 million from $539.3 million in the prior-year quarter. In constant dollars, total net revenue increased 7.9%.

Guess CEO Paul Marciano commented, “We are pleased with our first quarter performance, with all of our businesses delivering earnings within or beyond our previous expectations. We continued to expand the global presence of the Guess? brand, with each of our segments growing in the quarter.

“Europe and Asia continued to drive that expansion, individually delivering double digit revenue increases, which combined to represent almost two-thirds of the Company’s top line growth. Our team executed well, managing costs and inventories tightly, which produced an operating margin that was two full points stronger than our previous expectations.”

Zale Corp. (ZLC) proves a jewel as shares hike

Wednesday, May 25th, 2011

Zale Corp. (NYSE: ZLC) shares jumped 21% to $5.35, after the diamond and jewelry retailer reported third-quarter revenue that beat analysts’ expectations. Volume for the stock was 4.3 million shares, or more than 10 times its daily average.

Zale announced that for the third fiscal quarter ended April 30, 2011, it had a net loss from continuing operations of $10 million, or $0.31 per share, compared to a net loss from continuing operations of $15 million, or $0.46 per share, in the comparable quarter last year.

Revenues for the quarter were $412 million, an increase of $52 million, or 14.5%, compared to $360 million in the same period last year. Comparable store sales during the quarter increased 15.2%, compared to a decrease of 2.2% during the same period last year. At constant exchange rates, which exclude the effect of translating Canadian currency denominated sales into U.S. dollars, comparable store sales increased 14.2% for the quarter.

Zale CEO Theo Killion commented, “We continue to make progress in our multi-year initiatives to return the Company to profitability. Our results validate that the work we’ve done to improve our marketing, our product and our guest experience is beginning to take hold.”

“This quarter marked the second consecutive quarter of positive same store sales,” concurred CAO/CFO Matt Appel. “We are pleased with the trend of improved financial performance resulting from our turnaround initiatives.”

Irving, Texas-based Zale Corporation is a leading specialty retailer of diamonds and other jewelry products in North America, operating approximately 1,845 retail locations throughout the United States, Canada and Puerto Rico, as well as online.

DSW Inc. (DSW) share prices off on right foot

Tuesday, May 24th, 2011

DSW Inc. (NYSE: DSW) shares gained 17.6% to $50.78 after the shoe retailer boasted a stronger quarterly bottom line. Volume for the stock surmounted 235,000 shares, nosing out a daily average around 223,181.

The Columbus, Ohio-based footwear specialty retailer reported net sales increased 12.0% to $503.6 million from $449.5 million in the first quarter of 2010. Net income was $38.4 million, or $0.85 per diluted share on 45.3 million weighted average shares outstanding.

This included charges associated with the pending merger with Retail Ventures Inc. (NYSE: RVI) that impacted first quarter earnings per diluted share by approximately $0.02. This compares to net income of $30.2 million, or $0.67 per diluted share on 44.8 million weighted average shares outstanding, in the first quarter of 2010.

“We have had a strong start to the year, recording double-digit gains in net sales and comparable sales and a 29% increase in operating profit as compared to the first quarter last year, continuing our stellar performance from 2010,” according to CEO Mike MacDonald.

“We attribute our ongoing strength to the successful execution of our key growth initiatives, and the increasing importance and attachment to the DSW brand by consumers. During the quarter, DSW achieved balanced growth across categories and genders with accessories and men’s leading the way. Our new stores performed well and we were also pleased with the growth in our leased business division, which generated its highest quarterly sales in over four years.”

DSW Inc. is a leading branded footwear specialty retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear for women and men, as well as accessories.

El Paso Corp. (EP) perks on higher earnings outlook

Tuesday, May 24th, 2011

El Paso Corp. (NYSE: EP) shares climbed 7.2% to $20.35 Tuesday, after the natural-gas producer and pipeline operator hiked its 2011 earnings forecast and announced plans to split into two publicly traded companies. Volume for the stock was 27.9 million shares, dwarfing an all-day average of 10.4 million.

El Paso Corporation announced today that it is raising its financial and operational guidance for 2011 as results to date have exceeded expectations. Among the highlights: $1.00-$1.10 adjusted diluted earnings per share (Adjusted EPS); $2.3-$2.5 billion Adjusted Segment Earnings Before Interest and Taxes; $3.4-$3.6 billion Adjusted Segment Earnings Before Interest, Taxes and Depreciation, Depletion and Amortization (Adjusted Segment EBITDA) and; $2.2-$2.4 billion cash flow from operations.

El Paso CEO Doug Foshee, commented, “El Paso is on its way to another great year with improved earnings and operating cash flow. We are particularly excited about our drilling results in the Eagle Ford shale, where our oil production will grow significantly this year. We are also very pleased with the pace of dropdowns to El Paso Pipeline Partners, L.P. (NYSE: EPB). Our MLP has already issued more equity than we anticipated for all of 2011, and we will continue to accelerate our balance sheet improvement with the proceeds from future transactions.”

Moreover, El Paso announced today that its Board of Directors has granted initial approval of a plan to separate the company into two publicly traded businesses by year end 2011.

Following the completion of the proposed spinoff, El Paso Corporation will be comprised of El Paso’s Pipeline Group, its Midstream Group, and its general and limited partner interests in El Paso Pipeline Partners, L.P. It will be the premier pipeline company in North America, uniquely integrated in the major U.S. supply and market regions. With a planned 2012 annual dividend of $0.60 per share and a targeted low double-digit dividend growth rate, it is positioned to be a very attractive corporate yield investment.

LinkedIn Corp. (LNKD) rings the bell, gains more than 30 percent

Thursday, May 19th, 2011

LinkedIn Corp. (NYSE: LNKD) shares more zoomed 34.6% to $101.93 as the professional-networking site made its market debut. Shares of the new issue totaled nearly 26.5 million.

LinkedIn Corporation, the world’s largest professional network with more than 100 million members worldwide, opened for trading on the New York Stock Exchange (NYSE) under the ticker symbol “LNKD” after its initial public offering in which it raised $352.8 million in gross proceeds. LinkedIn CEO Jeff Weiner, joined by members of the company’s management team, celebrated the company’s first day of trading on the NYSE by ringing The Opening Bell.

“Becoming a publicly traded company on the NYSE is another significant step toward LinkedIn’s goal of connecting the world’s professionals to make them more productive and successful.” Weiner noted afterwards.

LinkedIn is the world’s largest professional network on the Internet, whose member base currently includes executives from every Fortune 500 company. The company has a diversified business model with revenues coming from member subscriptions, advertising sales and hiring solutions. LinkedIn was founded in 2003 and is headquartered in Mountain View, California.