Today’s Earnings Show Mixed Reactions: SPLS, TGT, SKS, ANFVW Staff
Wall Street has been wedged in unending rambling following the release of earnings reports for big players. It is a melting pot of reactions as divides are being made and investors are taking sides. Some of the big names that have and will release their reports this week are Staples, Target, Saks and Abercrombie
Staples, Inc. (NASDAQ:SPLS)
Being one of the leading office solutions company, a lot of eyes have been set on this industry titan. To the disappointment of many shareholders and prospective investors, Staples has recorded a decline in performance. Though it sales reduced by a paltry 1% to settle at $6.1 billion, net income took a literal nosedive and decreased by 6% on a year to year basis. Staples currently posts $187 as net income. Earnings per share however remained rather stagnant-$0.27, a slight decrease compared to last year’s $0.28.
All said investors are sweltering in confusion as swelling concerns over the stagnant state of staples have started to crawl in. Most shareholders have opted to hold while the extremely disgruntled are seeking to sell.
Target Corporation (NYSE:TGT)
This Minneapolis based corporation has posted good earnings. This has come as welcome news to many investors. Target, which apparently has 1764 stores scattered across the U.S, posted quarterly net earnings of $697 million. Basing on the preferable adjusted earnings per share outlook which is used by most companies, the company posted earnings per share figures of $1.11. This is close to an 11% accent on a year to year basis; last financial year earnings per share figure settled at a paltry $0.99.
Target is currently engulfed by a profound bullish aura and shareholders seem to be utterly please as the company has managed to record improvements in most of its fronts.
Saks Inc (NYSE:SKS)
Over at Saks, prospects seemed high as there was an increase in net income. This year the Saks posted $32.7 million net income. A slight increase compared to last year’s $30.5 million. Much of the improved performance was attributed to the outgrowth of the gross margin rate improvement.
Investors are confident and there are expectations that this player will go a notch higher in its space.
Abercrombie & Fitch Co. (NYSE:ANF)
Despite the economic crunch currently facing Europe, this player has managed to maintain a strong grip on its American and larger global market. It recorded an international sales growth that surpassed an unbelievable 42%. Net sales were noted to increase by 10% up to $921 million. Although the $ 3million net income was less as compared to last year’s $25 million, prospects are still high as a big part of the decline is attributed to strong market forces.