Market News

Pier 1 Imports, Inc. (PIR)

Pier 1 said Thursday that its fiscal third quarter net income was $39 million, or 37 cents a share, compared with a year-earlier loss of $37 million, or 41 cents a share. Excluding items, the company's profit was 2 cents a share. Sales rose 8.7 percent to $327.1 million. Sales at stores open at least a year rose 13.7 percent.
The profit was a surprise, as analysts had been expecting a loss of 5 cents.

Dec 17 · 11:08:00 AM · Source: Company News
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by Larry Etter

Whirlpool (WHR)

Whirlpool Corporation said today it had appointed William D. Perez, former president and CEO of Wm. Wrigley Jr. Company, to its board of directors.

Dec 15 · 11:38:00 AM · Source: Company News
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by Larry Etter

Best Buy (BBY)

Best Buy said Tuesday that its third-quarter net income increased to $227 million, or 53 cents a share, up from $52 million, or 13 cents, earned in the same period a year earlier. That prior period had a 22-cent charge. Third quarter sales increased 5% to $12.02 billion from $11.5 billion. Sales at locations open at least 14 months, a key industry-performance benchmark, rose 1.7%.
Margins, however, are under pressure as sales of low-cost laptops and lower priced flat panel TVs are dominating Best Buy sales.

Dec 15 · 10:13:00 AM · Source: Company News
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by Larry Etter

McDonald's (MCD)

CNN.com is reporting that McDonald's will start offering breakfast for a buck with the launch of a national dollar menu in January. The breakfast dollar menu will be backed with advertising across the U.S., and will feature five items: two sausage sandwiches, a sausage burrito, a 12-ounce coffee and a hash brown. The menu may feature some variations based on markets.
The concern here is that McDonald's margins are going to get squeezed. Their strategy seems to be to try to maintain market share and traffic in this tough environment.

Dec 11 · 1:05:00 PM · Source: CNN.com
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by Rich Pike

The Men's Wearhouse (MW)

Men's Wearhouse, Inc. (the) reported for the 3rd-quarter 2009 earnings of $19.7 million, or $.37 per share, on sales of $462 million. That compares to the prior year earnings of $15.7 million, or $.28 per share, on sales of $459.7 million.
For the fourth quarter the company guidance is that the Company expects a GAAP loss per share to be in a range of $0.15 to $0.19. Ouch.

Dec 10 · 8:41:00 PM · Source: Company Press Release
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by Rich Pike

The Men's Wearhouse (MW)

The Men's Wearhouse, Inc. reported for the 3rd-quarter 2009 earnings of $19.7 million, or $.37 per share, on sales of $462 million. That compares to the prior year earnings of $15.7 million, or $.28 per share, on sales of $459.7 million.
For the fourth quarter the company guidance is that the Company expects a GAAP loss per share to be in a range of $0.15 to $0.19. Ouch.

Dec 10 · 1:58:00 PM · Source: Company Press Release
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by Rich Pike

Garmin (GRMN)

Smarttrend.com is reporting that Barclays Capital equity research issued a note to clients Wednesday following a meeting with Garmin's management. The note concluded with this statement, "Coupled with expectations of growth in its other business lines driven largely by new product introductions, share gains, and a broader cyclical recovery, management is planning for growth on a top and bottom line basis (compared to consensus expectations of a decline)."
Garmin's stock is currently up 4% in today's trading to $31.24.

Dec 9 · 3:41:00 PM · Source: Smarttrend.com
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by Rich Pike

McDonald's (MCD)

McDonald's reported that sales at restaurants open at least a year fell 0.6 percent in the U.S. It was the second consecutive monthly decline for the measure, an important indicator of a restaurant chain's health, and a steeper fall than October's 0.1 percent. This is only the fourth U.S. decrease in 6 1/2 years.
Many analysts believe the high unemployment rate is negatively impacting sales for McDonald's, as well as other fast food chains. Expect continued weak results until unemployment recedes.

Dec 8 · 8:39:00 PM · Source: Yahoo Finance
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by Rich Pike

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