On Wednesday, Sunstone Hotel Investors Inc (NYSE:SHO)’s shares inclined 2.33% to $15.36.
Sears Hometown and Outlet Stores Inc (SHOS) stated results for its quarter ended May 2, 2015. Results for the first quarter comprised of:
- Operating income reduced 36.9% to $4.0 million
- EPS reduced 43.8% to $0.09
- Adjusted EBITDA reduced 16.1% to $7.2 million
- Comparable store sales reduced 1.2%
Bruce Johnson, Chief Executive Officer and President, said, “During the quarter our core operations, which exclude franchise sales, generated higher profits than recent quarters due to a more moderate promotional environment and good expense controls. We are encouraged by several aspects of our first quarter results. We made important strides in improving our business-we launched our “America’s Appliance Experts” initiative in over 50 stores and we launched the transformation of our information systems and operational processes. Also, we had strong cash flow that resulted in continued reductions in borrowings. Our improved inventory sourcing in the Outlet segment and the conversion of 5 Hardware stores to Outlet Stores reduced capital tied up in inventory. Outstanding borrowings were down to $30.0 million at the end of the first quarter of 2015, which was a decrease of $68.1 million and $54.1 million contrast to the first quarter of 2014 and the fourth quarter of 2014, respectively.
First Quarter Results
Net sales in the first quarter of 2015 reduced $7.1 million, or 1.2%, to $582.8 million from the first quarter of 2014. This decrease was driven primarily by a 1.2% decrease in comparable store sales, lower online commissions from Sears Holdings Corporation ($4.0 million in the first quarter of 2015 contrast to $9.0 million in the first quarter of 2014), and lower initial franchise revenues, which were $0.5 million in the first quarter of 2015 contrast to $3.3 million in the first quarter of 2014. These decreases were partially offset by sales associated with new stores (net of closures).
Sears Hometown and Outlet Stores, Inc. engages in the retail sale of home appliances, lawn and garden equipment, tools, and hardware in the United States. The company operates in two segments, Sears Hometown and Hardware, and Sears Outlet. The Sears Hometown and Hardware segment operates Sears Hometown Stores that offer products and services across a selection of merchandise categories, counting home appliances, lawn and garden equipment, tools, sporting goods, and household goods; and Sears Hardware Stores, which provide products and services across a range of merchandise categories, such as home appliances, lawn and garden equipment, tools, other home improvement products, fasteners, electrical supplies, and plumbing supplies, in addition to proprietary in-store services comprising blade sharpening, key cutting, and screen repair.
Terex Corporation (NYSE:TEX)’s shares dropped -3.06% to $22.53.
Iron Mountain Inc (IRM) declared the results of the landmark studyi, “Mining for Insight: Rediscovering the Data Archive,” an IDC white paper, sponsored by Iron Mountain. The results confirm every executive’s worst nightmare: Organizations of all sizes and across industries are drowning in data, unable to effectively mine their data archives for key insights that could ultimately improve business outcomes. However, the findings also indicate that a subset of organizations are in fact successfully leveraging their data archives and the benefits are impressive – as much as an additional $10M in revenue from streamlined IT and customer service operations.
The research reveals that organizations with a well-defined data archive process stand to realize value from two potential avenues: cost savings and added revenue from monetizing archives. On the savings front, more than half of the organizations polled realized $1M or more in savings over the past year from risk mitigation and avoidance of litigation, with the top 21 percent reporting savings of more than $10M. Similarly, 44 percent of organizations reaped $1M or more in savings stemming from reduced operational or capital costs, with the top 18 percent capturing more than $10M.
More striking is an organization’s ability to draw new revenue from an effectively managed data archive. While 39 percent of companies surveyed benefited from an additional $1M or more in revenue, the top 15 gained more than $10M. On average, companies polled saw an additional $7.5M in new revenue streams from their data archive.
Iron Mountain Incorporated, a real estate investment trust, provides storage and information administration services in North America, Europe, Latin America, and the Asia Pacific. It operates through North American Records and Information Administration Business, North American Data Administration Business, Western European Business, Other International Business, and Corporate and Other Business. The company provides storage services for paper documents and other media, such as microfilm and microfiche, master audio and videotapes, film, X-rays, and blueprints, counting healthcare information services, vital records services, and service and courier operations, in addition to the collection, handling, and disposal of sensitive documents for corporate customers.
At the end of Wednesday’s trade, Diamond Offshore Drilling Inc (NYSE:DO)‘s shares dipped -1.84% to $25.33.
Diamond Offshore Drilling Inc (DO) declared that it will issue its future fleet status reports each calendar quarter concurrent with the release of its quarterly earnings. The Company has historically issued its fleet status reports on a monthly basis. The change from monthly to quarterly reporting is intended to better protect sensitive customer and contract information in light of competitive dynamics in the offshore drilling industry.
Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. The company provides services in floater market, such as ultra-deepwater, deepwater, and mid-water; and non-floater or jack-up market. It operates a fleet of 38 offshore drilling rigs, which comprise 27 semisubmersibles, counting 1 under construction; 6 jack-ups; and 5 dynamically positioned drillships, counting 1 under construction. Diamond Offshore
Norfolk Southern Corp. (NYSE:NSC), ended its Wednesday’s trading session with 0.82% gain, and closed at $88.08.
Norfolk Southern (NSC) in a ceremony at Washington, D.C.’s Union Station unveiled its latest commemorative locomotive, vibrant SD60E honoring emergency first responders. The locomotive – with insignia recognizing police, fire, and emergency services – will enter general revenue service on Norfolk Southern’s 22-state network.
he red, white, and gold locomotive – its paint scheme designed by NS’ Visual Communications team and painted at the company’s Juniata Locomotive Shop in Altoona, Pa. – features the Maltese Cross of fire services, the Emergency Medical Services’ “Star of Life,” and the Police shield. It also features the logo for Transportation Community Awareness and Emergency Response (TRANSCAER), a national outreach organization dedicated to providing education and resources to assist raise the level of emergency preparedness for the unlikely event of a rail incident. The locomotive sports “9-1-1,” the phone number to request emergency assistance, in addition to the Norfolk Southern OAR shield.
Norfolk Southern Corporation, together with its auxiliaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. As of December 31, 2014, it operated about 20,000 miles of road in 22 states and the District of Columbia. The company also operates planned passenger trains; transports overseas freight through various Atlantic and Gulf Coast ports; and provides logistics services. In addition, it provides bimodal truckload transportation services primarily utilizing RoadRailer trailers, a hybrid technology that facilitates over-the-road and on-the-rail transportation in the eastern United States, in addition to in Ontario and Quebec through a network of terminals.
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