Markets & Finance

Target and Wal-Mart Expect Holiday Cheer


Target (TGT) posted 2.6% higher November same-store sales and 9.1% higher total sales. It says its outlook for this year's holiday season remains optimistic, and it continues to expect it will achieve profitable market share gains.

Wal-Mart Stores (WMT) posted a 4.3% higher November total US same-store sales rise and 9.4% higher total sales. It sees December same-store sales up 2% to 4%.

Florida Rock Industries (FRK) posted 69 cents vs. 36 cents fourth quarter earnings per share on a 35% revenue rise. The construction materials producer says residential construction in its markets continues to show strength, if not growth, while non-residential and highway opportunities appear to be improving slightly.

J.C. Penney (JCP) posted 3.6% higher November same-dept.-store sales and 4.0% higher total company sales, while maintaining its $1.58 fourth quarter earnings per share forecast.

Abercrombie & Fitch (ANF) posted 23% higher November same-store sales and 34% higher total sales.

Lamson & Session (LMS) raised fourth quarter guidance to 70 cents to 75 cents earnings per share on sales of $125 million to $130 million. It cited strong orders, end-market demand, and higher selling prices. Due to the uncertainty of supply chain issues, the sewer products maker is not currently providing 2006 earnings per share estimates.

Synopsys (SNPS) posted 8 cents fourth quarter loss vs. 19 cents loss (GAAP) on an 11% revenue rise. It posted 10 cents non-GAAP earnings per share and sees 4 cents loss to 2 cents earnings per share in the first quarter on a GAAP basis, (13 cents to 17 cents earnings per share on a non-GAAP basis), on revenue of $254 million to $262 million.

American Eagle Outfitters (AEOS) posted a lower-than-expected 1.7% increase in November same-store sales and 6.9% increase in total sales. It trims its 73 cents to 75 cents fourth quarter earnings per share estimate to 70 cents to 72 cents, which includes a tax charge of about 2 cents for the repatriation of foreign earnings.

Hot Topic (HOTT) posted flat November same-store sales and 13% higher total sales.

Gap (GPS) posted 4% lower November same-stores sales and flat total sales.

Aeropostale (ARO) posted 7.3% higher same-store sales and 27% higher total sales, citing the strong Thanksgiving week.

Men's Wearhouse (MW) posted 5.8% higher November U.S. same-store sales and 7.5% higher total sales. It says increased customer store traffic drove better-than-anticipated sales results with pricing remaining flat vs. the same month last year.

Costco (COST) posted 6% higher November same-store sales and 9.1% higher total sales. Same-store sales were reportedly below expectations.

American Equity Investment Life Holding (AEL) is to offer 13 million shares in a public offering.

Global Industries (GLBL) says it has consolidated management responsibilities with Chairman and CEO William J. Dore assuming the duties of chief operating officer. The marine construction company also reorganized its operating management structure in Asia and the Middle East.

AnnTaylor Stores (ANN) posted 13% higher November same-store sales and 25% higher total sales.

Bally Total Fitness (BFT) posted 5 cents third quarter loss vs. 21 cents earnings per share on a slight revenue decline, costs related to information technology upgrades, financial restatement, and Sarbanes-Oxley. It retains J.P. Morgan to explore a range of strategic alternatives.

Wet Seal (WTSLA) posted 52% higher November same-store sales and 22% higher total sales.

PW Eagle (PWEI) sees fourth quarter earnings per share of at least $3.60, including charges from debt prepayment and a gain from the sale of interest in W.L. Plastics. It plans to combine polyvinyl chloride and polyethylene pipe operations into one entity by merging the USPoly Co. unit into PW Eagle.

CVS (CVS) posted 7% higher November same-store sales and 9.3% higher total sales.

Wilsons The Leather Experts (WLSN) posted 14% lower November same-store sales and 15% lower total sales. It says same-store sales are lower than expected due to unfavorable weather and a disappointing Thanksgiving week sales performance.

Jos. A. Bank Clothiers (CLOT) (JOSB) posted 3.8% higher November same-store sales and 16% higher total sales.

MTC Technologies (MTCT) cut its 2005 revenue estimate to $373 million to $377 million from $384.9 million to $390.2 million. It says the conditions necessary for its planned acquisition to occur were not able to be satisfied, and may never be satisfied.

Convera (CNVR) posted 5 cents third quarter loss on a 26% revenue decline. It says the timing of certain government opportunities in the U.S. and the U.K. were a main cause of the third quarter shortfall. Separately, it says the FBI executed a contract to access the company's Excalibur Web search technology.

FBC (SFCC) In an 8-K filing, the company says that in order to prepare for renovations at its Miami facility and address "egress-fire safety issues" raised by the county, the company has reduced its beds at its Biscayne Blvd facility.


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