During Tuesday’s current trade, Joy Global Inc. (NYSE:JOY)’s shares incline 0.08% to $38.30.
Joy Global Inc. (JOY) stated second quarter fiscal 2015 results.
Second Quarter Summary
- Bookings $745 million, down 29 percent from a year ago.
- Service bookings $595 million, down 15 percent from a year ago.
- Net sales $810 million, down 13 percent from a year ago.
- Earnings per diluted share $0.40, contrast to $0.73 a year ago.
- Not taking into account pension settlement and restructuring charges of $24 million, adjusted earnings per diluted share $0.59, contrast to $0.76 a year ago.
- Accomplished €110 million acquisition of Montabert in June, an underground hard rock mining equipment and service provider.
Joy Global Inc. manufactures and services mining equipment for the extraction of coal, copper, iron ore, oil sands, gold, and other minerals. It operates in two segments, Underground Mining Machinery and Surface Mining Equipment. The Underground Mining Machinery segment produces armored face conveyors, battery haulers, continuous chain haulage systems, continuous miners, conveyor systems, feeder breakers, flexible conveyor trains, hard rock mining products, high angle conveyors, long wall shearers, powered roof supports, road headers, roof bolters, and shuttle cars.
Lululemon Athletica inc. (NASDAQ:LULU)‘s shares gain 1.09% to $67.55, during the current trading session Tuesday’s, hitting its highest level.
Lululemon Athletica Inc. (LULU) is a leading name in the athletic apparel and accessories space, occupying a noteworthyposition in the market due to its superior product designs and premium pricing, despite the product mishap last year.
Lululemon has an edge over its competitors on the basis of innovation as the company’s superior pricing allows it to experiment with fabric and designs. Moreover, we remain impressed with the company’s favorable demographic and secular trends that ensure top-line growth over the long term.
Lululemon posted solid first-quarter fiscal 2015 results, wherein both the top and bottom line exceeded its own guidance. The strong results were backed by improved traffic, constant developments in eCommerce, higher conversions and improved brand engagements against a backdrop of currency headwinds, unfavorable weather and port delays.
Further, the company raised its sales and earnings outlook for fiscal 2015 as it remains optimistic about its growth strategies.
lululemon athletica inc., together with its auxiliaries, designs, manufactures, and distributes athletic apparel and accessories for women, men, and female youth. It operates through two segments, Corporate-Owned Stores and Direct To Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle activities and athletic pursuits, such as yoga, running, and general fitness; and dance-inspired apparel for female youth. It also provides fitness-related accessories, counting bags, socks, underwear, yoga mats, and water bottles.
In a afternoon trade, VF Corp (NYSE:VFC)‘s shares surge 0.17% to $68.97.
VF Corporation (VFC) stated financial results for its first quarter ended April 4, 2015. All per share amounts are presented on a diluted basis. This release refers to “currency neutral” and “stated” amounts, terms that are described under the “Currency Neutral – Not taking into account the Impact of Foreign Currency” paragraph. Reconciliations of GAAP measures to currency neutral amounts are presented in the supplemental financial information comprised of with this release, which identifies and quantifies all excluded items. Unless otherwise noted, currency neutral and stated amounts are the same.
First Quarter 2015 Highlights
Revenues rose 8 percent on a currency neutral basis counting growth in our Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear coalitions, and our international and direct-to-consumer businesses. On a stated basis, revenues raised 2 percent over the 2014 quarter.
Gross margin was 49.0 percent on a stated basis, down 40 basis points contrast with the same quarter last year and in line with our expectations. Continued benefit from the shift of our revenue mix toward higher margin businesses was more than offset by the impact of foreign currency. The company continues to expect a 70 basis point improvement for the full year to reach 49.5 percent on a currency neutral basis (49.2 percent stated).
Operating income on a stated basis was down 1 percent to $398 million contrast with the same period of 2014. Operating margin on a stated basis declined 50 basis points to 14.0 percent, which comprises a 70 basis point headwind from changes in foreign currency rates.
Earnings per share were up 13 percent on a currency neutral basis and were flat on a stated basis contrast with last year’s same period.
V.F. Corporation designs, manufactures, markets, and distributes branded lifestyle apparel, footwear, and accessories in the United States and Europe. The company offers outdoor apparel, footwear and equipment, youth culture/action sports-inspired footwear, handbags, luggage, backpacks, totes, accessories, merino wool socks, women’s activewear, and travel accessories under the The North Face, Vans, Timberland, Kipling, Napapijri, Jansport, Reef, Smartwool, Eastpak, lucy, and Eagle Creek brands.
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