On Wednesday, Target Corporation (NYSE:TGT)’s shares inclined 0.44% to $80.35.
Target Corporation (TGT) stated first quarter 2015 adjusted earnings per share from ongoing operations1 (Adjusted EPS) of $1.10, up 19.6 percent from $0.92 in 2014. GAAP EPS from ongoing operations were $1.01, contrast with $0.89 in first quarter 2014. First quarter 2015 GAAP EPS from ongoing operations reflect $103 million of restructuring costs that are excluded from Adjusted EPS. The tables attached to this press release provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted EPS.
Fiscal 2015 Earnings Guidance
In second quarter 2015, Target anticipates Adjusted EPS of $1.04 to $1.14, contrast with $1.01 in second quarter 2014.
The Company now anticipates full-year 2015 Adjusted EPS of $4.50 to $4.65, contrast with prior guidance of $4.45 to $4.65.
Segment Results
First quarter 2015 sales raised 2.8 percent to $17.1 billion from $16.7 billion last year, reflecting a 2.3 percent enhance in comparable sales combined with sales from new stores. Digital channel sales grew 37.8 percent and contributed 0.8 percentage points to comparable sales growth. Segment earnings before interest expense and income taxes (EBIT) were $1,261 million in first quarter 2015, an enhance of 19.7 percent from $1,053 million in 2014.
Target Corporation operates as a general merchandise retailer in the United States and Canada. It offers household essentials, counting pharmacy, beauty, personal care, baby care, cleaning, and paper products; music, movies, books, computer software, sporting goods, and toys; electronics, such as video game hardware and software; and apparel for women, men, boys, girls, toddlers, infants, and newborns, in addition to intimate apparel, jewelry, accessories, and shoes.
Tyson Foods, Inc. (NYSE:TSN)’s shares dropped -1.16% to $41.78.
Mexico’s Federal Economic Competition Commission has approved the sale of Tyson Foods, Inc.’s (TSN) poultry business in Mexico to Pilgrim’s Pride, which is part of a wholly-owned partner of JBS SA (BM&FBovespa — Novo Mercado:JBSS3) (JBSAY).
The commission, which has been reviewing the transaction, recently voted to permit the deal to proceed.
Tyson Foods and Pilgrim’s Pride reached a definitive agreement on the sale last July. The Mexican business, known as Tyson de Mexico, is a vertically integrated poultry business based in Gomez Palacio in North Central Mexico. It employs more than 5,400 people in its offices, three plants and seven distribution centers.
After the sale is accomplished, Tyson Foods will continue to serve customers in Mexico. The company will supply them with U.S.-produced chicken in addition to chicken produced in Mexico, in part through a co-packaging arrangement with Pilgrim’s Pride.
Tyson Foods, Inc., together with its auxiliaries, produces, distributes, and markets chicken, beef, pork, prepared foods, and related allied products worldwide. The company breeds and raises chickens; and processes live chickens into fresh, frozen, and value-added chicken products. It also processes live fed cattle, and live market hogs and allied products; fabricates pork and dressed beef carcasses into primal and sub-primal cuts and case-ready products; and sells hides and meats.
At the end of Wednesday’s trade, Plug Power Inc (NASDAQ:PLUG)‘s shares surged 0.71% to $2.82.
Plug Power Inc (PLUG) declares an expansion contract with Walmart Canada to provide 124 GenDrive fuel cells for its new High Velocity Distribution Center building in Balzac, Alberta, Canada. This expansion adds on to the fleet in operation since 2010 and brings the GenDrive total upwards of 230 units at the site.
GenDrive hydrogen fuel cells are preferred over lead-acid batteries as they allow customers to see raised productivity from their lift truck fleets. Hydrogen fuel cells provide constant and compriseent power to lift trucks, eliminating the need to change and charge batteries. Additionally, as an environmentally friendly power source, hydrogen fuel cells product only heat and water as byproducts, assisting users meet important sustainability targets.
Walmart Canada will also receive a GenFuel infrastructure to support the Balzac distribution center. Plug Power’s proprietary GenFuel system provides advanced diagnostics to assist customers monitor fleet fueling and operational metrics. This GenFuel system will support two buildings — the new High Velocity Distribution Center and the existing Perishable Distribution Center. Plug Power highlights that this is the first GenFuel installation in Canada.
Plug Power Inc., an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of fuel cell systems for the industrial off-road markets worldwide. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies.
Five Below Inc (NASDAQ:FIVE), ended its Wednesday’s trading session with 2.45% gain, and closed at $35.10.
Five Below Inc (FIVE) declared financial results for the thirteen weeks ended May 2, 2015.
For the thirteen weeks ended May 2, 2015:
- Net sales raised by 22.0% to $153.7 million from $126.0 million in the first quarter of fiscal 2014; comparable store sales raised by 1.7%.
- Operating income raised to $7.0 million from $5.3 million in the first quarter of fiscal 2014. Adjusted operating income, which excludes the impact of the founders’ transaction in the first quarter of fiscal 2014 (see GAAP/Non-GAAP reconciliation table), raised to $7.0 million from $6.1 million in the first quarter of fiscal 2014.
- The Company opened 19 new stores and ended the quarter with 385 stores in 23 states. This represents an enhance in stores of 19% from the end of the first quarter of fiscal 2014.
- S. generally accepted accounting principles, or GAAP, net income was $4.3 million contrast to $3.1 million in the first quarter of fiscal 2014. Adjusted net income, which excludes the impact of the founders’ transaction in the first quarter of fiscal 2014 (see GAAP/Non-GAAP reconciliation table), was $4.3 million contrast to $3.6 million for the first quarter of fiscal 2014.
Five Below, Inc. operates as a specialty value retailer in the United States. It offers accessories, counting novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, in addition to beauty products comprising nail polish, lip gloss, fragrance, and branded cosmetics; and items used to complete and personalize living space, counting glitter lamps, posters, frames, fleece blankets, pillows, candles, incense and related items, and storage options for the customer’s room and locker.
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