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  • Signet stock jumps after swinging to big profit beat, as same-store sales more than doubled

    Shares of Signet Jewelers Ltd. jumped 5.6% in premarket trading Thursday, after the diamond jewelry retailer reported a big profit beat as revenue nearly doubled and same-store sales more than doubled. For the quarter to May 1, the company swung to net income of $168.7 million, or $2.23 a share, from a loss of $299.6 million, or $3.96 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.23 beat the FactSet consensus of $1.27. Revenue rose 98.2% from a...

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  • Advance Auto Parts adjusted profit more than triples and sales rise, beating expectations

    Advance Auto Parts Inc. reported fiscal a first-quarter adjusted profit that more than tripled and beat expectations, boosted by record sales growth amid strong demand from do-it-yourself and professional customers. The auto parts retailer's stock was still inactive in premarket trading. Net income for the quarter to April 24 rose to $185.9 million, or $2.81 a share, from $43.6 million, or 63 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew...

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  • Retail forecast raised with 2021 sales now expected to top $4.44 trillion

    The National Retail Federation is now forecasting that retail sales will grow between 10.5% and 13.5% to reach more than $4.44 trillion. The NRF previously forecast growth of 6.5% to 8.2%. "The initial forecast was made when there was still great uncertainty about consumer spending, vaccine distribution, virus infection rates and additional fiscal stimulus, prior to passage of the American Rescue Plan Act," the group said in a statement. Online sales are expected to grow between 18% and 23% to a...

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  • Jack Daniel's parent Brown-Forman stock drops after profit miss, but sales beat forecasts

    Shares of Jack Daniel's parent Brown-Forman Corp. dropped 2.4% in premarket trading Wednesday after the spirits seller reported a fiscal fourth-quarter profit that fell short of expectations, while revenue beat forecasts. Net income for the quarter to April 30 fell to $120 million, or 25 cents a share, from $128 million, or 27 cents a share, in the year-ago period. The FactSet consensus was for net earnings per share of 31 cents. Sales rose 14% to $812 million, above the FactSet consensus of...

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  • Sanderson Farms beats profit and sales expectations, as improved chicken demand offset higher feed costs

    Sanderson Farms Inc. reported Thursday fiscal second-quarter profit and sales that rose above expectations, as improved poultry markets more than offset "significantly higher" feed grain costs. Net income for the quarter to April 30 rose to $96.9 million, or $4.34 a share, from $6.1 million, or 28 cents a share, in the year-ago period. The chicken producing, processing and distributing company said results included an income tax benefit of $37.4 million related to loss carry-back provisions...

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  • Medtronic beats profit and revenue expectations, boosts dividend

    Shares of Medtronic PLC slipped 0.1% in premarket trading Thursday, after the medical technology and services company reported fiscal fourth-quarter profit and sales that rose above expectations, citing a "strong recovery" in elective procedures, and boosted its dividend by 8.6%, but provided a less than upbeat full-year outlook. Net income for the quarter to April 30 rose to $1.36 billion, or $1.00 a share, from $646 million, or 48 cents a share, in the year-ago period. Excluding nonrecurring...

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  • Donaldson's stock set to surge after profit and sales beats, raised guidance

    Shares of Donaldson Co. Inc. were indicated up more than 4% in premarket trading Wednesday, after the filtration products company reported fiscal third-quarter profit and record sales that beat expectations, and raised its full-year outlook. Net income rose to $84.4 million, or 66 cents a share, from $63.4 million, or 50 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 58 cents. Sales grew 21.5% to $765.0 million, beating the FactSet consensus of $707.6...

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