PriceSmart, Inc. (PSMT) shares are trading this afternoon around the $25 level. They're down less than 1% as of this writing. Even so, they're not too far from the 52-week high of $25.50. It's nice to see a stock near the 52-week high in this market, huh? The company, an operator of warehouse clubs in Central America and the Caribbean, whose headquarters can be found in San Diego, issued its third-quarter report last week. The numbers show some pretty impressive growth.
PriceSmart posts
FeedPricemart Shows Impressive Growth
Earnings Highlights: Bed Bath & Beyond, Constellation Brands, Family Dollar, Lennar, Sonic ...
Here are some highlights from this past week's earnings coverage on BloggingStocks:
- Ark Restaurants Corp. (ARKR) shares declined after Q4 earnings fell short of consensus expectations.
- Azz Inc. (AZZ) Q3 net income fell more than expected but the company reaffirmed its earnings outlook.
- Bed Bath & Beyond Inc. (BBBY) reported strong Q3 results, sending shares to a new 52-week high.
- Best Buy Inc. (BBY) declined to lift its earnings forecast despite strong December sales, send shares lower.
- Constellation Brands Inc. (STZ) lower Q3 earnings topped expectations and revenue declined as well.
Azz and PriceSmart Fall Short of Analyst's Estimates
Friday saw both electrical equipment manufacturer Azz Inc. (AZZ) and warehouse club operator PriceSmart Inc. (PSMT) report lower earnings. Azz said third-quarter net income declined due to lower demand and volume, while PriceSmart's fiscal first-quarter profit was hurt by increased operating expenses.
Azz's earnings totaled $8.7 million, or $0.70 per share, down from $10.8 million, or $0.88 per share a year ago. Revenues for the quarter fell 25.1% to $81.5 million. Analysts polled by Thomson Reuters had expected $0.76 per share on $93.7 million.
Continue reading Azz and PriceSmart Fall Short of Analyst's Estimates
Price Club founder, Sol Price, dies
A visionary in the hyper-competitive retail industry, Sol Price saw a huge opportunity -- in the mid 1970s -- to create a bulk discount chain with a membership fee model. It was the Price Club. By the early 1990s, the company merged with Costco Wholesale Corporation (COST), becoming a powerhouse in the discount market.Unfortunately, Price died this week. He was 93.
Interestingly enough, Price started his career as a lawyer (he graduated from the University of Southern California). It was a great way to learn about the intricacies of different businesses. For example, one of his clients was Seven Seas Locker Club, which had a bulk-retail model for sailors during World War II.
PriceSmart not a buy after Q3 results
PriceSmart (NASDAQ: PSMT), an operator of warehouse clubs in Central America and the Caribbean and headquartered in San Diego, announced results for the third quarter on Friday. Judging by the reaction to the stock, I'd say the market wasn't too thrilled by the company's performance. As I write this, PriceSmart shares are down almost 14% on heavy volume in afternoon trading.
Net warehouse sales increased nearly 8%. Total revenue went up by a similar amount. Earnings came in at 30 cents per diluted share. Unfortunately, that means that PriceSmart's bottom line declined by 17%.
Earnings highlights: Family Dollar, Bed Bath & Beyond, Alcoa, Wells Fargo and more
Here are some highlights from this past week's earnings coverage from BloggingStocks:
- Bed Bath & Beyond Inc. (NASDAQ: BBBY) easily topped Q4 earnings estimates but same-store sales fell.
- Brinker International Inc. (NYSE: EAT) forecast Q3 earnings that are well above analysts' estimates.
- Constellation Brands Inc. (NYSE: STZ) said it narrowed its loss in Q4 despite restructuring costs.
- Excel Maritime Carriers Ltd. (NYSE: EXM) is expected to fall short of Q4 earnings expectations.
- Family Dollar Stores Inc. (NYSE: FDO) reported strong Q2 results and and raised its outlook for Q3.
Continue reading Earnings highlights: Family Dollar, Bed Bath & Beyond, Alcoa, Wells Fargo and more
PriceSmart's profit grows; Constellation Brands narrows loss
On Wednesday, PriceSmart Inc. (NASDAQ: PSMT) reported that its earnings rose 34% in the fiscal second quarter due to improved sales, and Constellation Brands Inc. (NYSE: STZ) said it narrowed its fiscal fourth quarter loss despite restructuring costs and lower holiday season wine sales in Britain and Australia.
Warehouse club operator PriceSmart said it earned $12.7 million, or 43 cents per share, for the period ended Feb. 28, compared to $9.5 million, or 33 cents per share, in the same period of the previous year. Revenue grew 14% to $334.8 million.
Continue reading PriceSmart's profit grows; Constellation Brands narrows loss
Earnings highlights: GE, Alcoa, Marriott, Pepsi Bottling, Wal-Mart, Boeing and others
Here are some highlights from this past week's earnings coverage from BloggingStocks:
- Alcoa Inc. (NYSE: AA) Q2 earnings decline on materials costs but beat analysts estimates (see transcript).
- Apollo Group Inc. (NASDAQ: APOL) solid Q3 results were accompanied by a share buyback program.
- Boeing Co. (NYSE: BA) warned that Q2 results will include a delay-related charge of 22 cents per share.
- Cash America International Inc. (NYSE: CSH) predicted Q2 earnings above previous guidance.
- EZcorp Inc. (NASDAQ: EZPW) predicted better-than-expected Q3 results due to strong sales.
- Family Dollar Stores Inc. (NYSE: FDO) beat Q3 expectations and raised its Q4 guidance.
- Flow International Corp. (NASDAQ: FLOW) swung to a better-than-expected Q4 profit on strong demand.
- General Electric Co. (NYSE: GE) reported mixed Q2 results and offered an uninspiring Q3 outlook (transcript).
- Helen of Troy Ltd. (NASDAQ: HELE) Q1 results were colored by write-downs and other charges.
- International Speedway Corp. (NASDAQ: ISCA) Q2 earnings soared while revenue slipped.
- Levis Strauss Q2 profitability plunged due to declining sales and higher administrative costs.
- Marriott International Inc. (NYSE: MAR) topped Q2 estimates but lowered its guidance (see transcript).
Finding positive earnings news in the new quarter
As the new earnings season kicked off, Alcoa Inc. (NYSE: AA) posted better-than expected results, despite a decline in earnings, and Pepsi Bottling Group (NYSE: PBG) topped Wall Street expectations as well. This just goes to show that there is some good news in earnings if you know where to look. Here are a few recent, less-prominent examples.
Flow International Corp. (NASDAQ: FLOW), which makes industrial waterjet equipment, swung to a better-than-expected fiscal fourth-quarter profit of $13.3 million, or 35 cents per share, helped by a boost in sales due to strong demand and an income tax benefit. Revenue rose 21% to $63.3 million. Shares are creeping up from a 52-week low of $6.81 a week ago.
Motor sports company International Speedway Corp.'s (NASDAQ: ISCA) second-quarter profit rose 41% to $26 million, or 52 cents per share. However, revenue slipped 3% to $174.9 million as admission and food and merchandise sales declined. Results fell short of Wall Street expectations, and shares fell to a 52-week low of $36.36.
Apparel and footwear company Wolverine World Wide Inc. (NYSE: WWW), second-quarter profit of $16.8 million, or 33 cents per share, topped Wall Street expectations, as strong international results linked to the weaker dollar largely offset increased product and freight costs. Revenue climbed 7% to $267.4 million. But shares fell $3.11 to $23.46 in morning trading.
Continue reading Finding positive earnings news in the new quarter
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