Markets & Finance

Barnes & Noble Plunges on Sales Drop


Shares of Barnes & Noble (BKS) were down sharply after the company posted 0.4% lower Oct. same-store sales for its "super" stores. It also cut fiscal 2001 EPS guidance to $1.08-$1.12, says events tied to the war on terrorism are hurting sales.

According to a press report, Enron( ENE) and Dynegy (DYN) held talks to under which Dynegy would buy Enron for roughly $7-$8 billion, or about one-tenth of what the energy merchant was worth 15 months ago. Dynegy also was expected to inject $1.1B into Enron immediately.

Gymboree ( GYMB) was higher after it posted 21% higher Oct. same store sales, and 17% higher total sales.

Costco Wholesale ( COST) posted 6% higher Oct. same store sales, 13% higher total sales.

Men's Wearhouse (MW ) recorded 16% lower Oct. same store sales, 11% lower total sales.

Allied Waste (AW) was up after it posted $0.13 vs. $0.27 3Q EPS. CS First Boston reiterated its strong buy rating. S&P maintained its hold.

Gap (GPS) posted 17% lower October same store sales, slightly lower than total sales. The retailer sees $0.05-$0.07 3Q loss, excluding charge. It's also reviewing all pending real estate deals for

2002, and will not committee to new deals at this time.

Kmart (KM) posted 4.4% lower October same store sales, and 4.9% lower total sales.

Sears Roebuck (S) posted 4.4% lower October domestic same store sales, 3.5% lower total domestic sales.

Target( TGT) posted 2% higher October same store sales, 8.9% higher total sales.

Ann Taylor (ANN) posted 12% lower October same store sales, 1.8% lower total sales. Sees $0.40 3Q EPS, and expects 4Q EPS to be in $0.25-$0.30 range, 6%-8% lower total same store sales.

American Eagle Outfitters (AEOS) posted 7.2% higher Oct. same store sales, 37% higher total sales. Notes total sales include $6.7M from Bluenotes/Thriftys operations. Robertson Stephens riterated it buy rating.

Wal-Mart (WMT) posted 6.7% higher total company same store sales, 15% higher total sales.

Talbots (TLB) posted 13% lower October same store sales, 4.9% lower total store sales. It remains comfortable with $0.52-$0.54 4Q EPS guidance.

Clear Channel (CCU) posted 17% lower 3Q EBITDA (pro forma). It lowered 2001 guidance. Banc of America cut its price target to $55. S&P maintains a hold rating on the stock.

Pixar (PIXR) posted $0.12 vs. $0.18 3Q EPS on 35% lower revenue. It raised 2001 EPS forecast from previous range of $0.50-$0.58, to new estimate of about $0.60.


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