On Friday, Shares of Pier 1 Imports Inc (NYSE:PIR), lost -12.34% to $7.60.
Pier 1 Imports stated financial results for the second quarter ended August 29, 2015.
For the second quarter ended August 29, 2015, the Company stated net income of $3.2 million, or $0.04 per share, contrast to last year’s second quarter net income of $9.2 million, or $0.10 per share. Total sales for the second quarter raised 2.7% (4.0% on a constant currency basis after adjusting for a 130 basis point impact attributable to the year-over-year decline in the value of the Canadian Dollar, relative to the U.S. Dollar) to $430.0 million, contrast to $418.6 million in the same period last year. Company comparable sales raised 2.5% (3.8% on a constant currency basis).
Merchandise margin (the result of adding back delivery and fulfillment net costs and store occupancy costs to gross profit) in the second quarter totaled $234.8 million, or 54.6% of total sales, contrast to $244.5 million, or 58.4% of total sales in the second quarter of fiscal 2015. The year-over-year decline is attributable to inventory related inefficiencies within the Company’s distribution center network, as well as promotional markdowns and clearance activity to reduce inventory levels. Gross profit in the second quarter totaled $149.5 million, or 34.8% of total sales, contrast to $162.6 million, or 38.9% of total sales in the second quarter of fiscal 2015. For the three months ended August 29, 2015, contribution from operations (gross profit less compensation for operations and operational expenses) totaled $68.5 million, contrast to $81.0 million during the same period last year.
Fiscal 2016 second quarter selling, general and administrative (“SG&A”) expenses were $128.4 million, or 29.9% of total sales, contrast to $134.8 million, or 32.2% of total sales in the year ago period.
Pier 1 Imports, Inc. is a global importer of home decor and furniture. The Company’s operations comprise of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of furniture, home furnishings, dining and kitchen goods, candles, gifts and other specialty items for the home.
Shares of Sprint Corp (NYSE:S), declined -2.05% to $4.30, during its last trading session.
Sprint Corp, said it plans to sit out a coming auction of wireless airwaves, a decision that will save the carrier billions of dollars but could deprive its network of upgrades in the future.
The Federal Communications Commission has planned a major auction for March 2016. The U.S. government plans to buy airwaves from TV broadcasters that it will then resell to wireless carriers.
Sprint said on Saturday that its airwaves at present are “sufficient to provide its current and future customers great network coverage.” The U.S. wireless carrier is about to commence on another major network overhaul it says will sharply improve data speeds.
The airwaves to be auctioned are considered as premium “beach-front property” because they are situated at lower frequencies. Low-frequency airwaves travel farther and penetrate buildings better than airwaves at higher frequencies, meaning carriers can cover larger areas using fewer cell towers. The airwaves are necessary to meet exploding consumer demand to stream videos and browse the Web on smartphones.
Sprint Corporation offers a range of wireless and wireline communications services to consumers, businesses and government users. The Company develops, engineers and deploys technologies, counting the first wireless fourth generation (4G) service from a national carrier in the United States; offering mobile data services, prepaid brands counting Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities, and a global Tier 1 Internet Service. On July 10, 2013, the Company, SoftBank Corp. and Sprint Nextel Corporation (Sprint Nextel) accomplished the merger.
Shares of AES Corp (NYSE:AES), declined -0.40% to $9.96, during its last trading session.
Dayton Power and Light (DP&L), a partner of The AES Corporation (AES), is offering residential customers, neighborhoods and Tree City USA communities an opportunity to plant beautiful and utility-friendly trees through DP&L’s Right Tree Right Place program, which kicked off its fall campaign recently.
The Right Tree Right Place program encourages DP&L customers to consider the impact on the safety and reliability of electric service when making decisions regarding tree selection and placement. Planting smart with the utilities in mind prevents potential problems that could result in outages.
DP&L is giving away 150 utility-friendly trees through our participating partner nurseries – Angle’s Nursery (Bellefontaine), Knollwood Garden Center and Landscaping, North Dayton Garden Center, Siebenthaler’s Garden Centers (Beavercreek and Centerville) and Stockslager’s Greenhouse and Garden Center. The first 25 customers at each location Saturday, October 17 will take home a free utility-friendly tree.
The AES Corporation (AES) is a holding company that operates a portfolio of electricity generation and distribution businesses. The Company is organized into six market-oriented Planned Business Units (SBUs): the United States, Andes (Chile, Colombia and Argentina), Brazil, MCAC (Mexico, Central America and Caribbean), Europe (formerly EMEA) and Asia. Within these six SBUs, the Company has two lines of business: generation and utilities.
Finally, United Continental Holdings Inc (NYSE:UAL), ended its last trade with -1.62% loss, and closed at $55.42.
United Airlines recently applied to the U.S. Department of Transportation (DOT) for authority to start seasonal nonstop service between the airline’s San Francisco hub and Xi’an, China. If approved, this will be the first trans-Pacific service to Xi’an operated by any airline, and United will be the first U.S. airline to serve the city.
United intends to use the world’s most advanced passenger airplane, the Boeing 787 Dreamliner, to operate the three-times-weekly service between May 8 and Oct. 27, 2016 (westbound).
United thanks DOT, the U.S. Department of State and the Civil Aviation Administration of China for their negotiations to open nonstop service from the United States to interior points in China. The airline also acknowledges the Provincial Government of Shaanxi and the past and present leadership of the government of Xi’an, the ancestral home of President Xi Jinping of the People’s Republic of China, for their forward-thinking air service development efforts.
United Continental Holdings, Inc. (UAL) is a holding company and its principal wholly owned partner is United Air Lines, Inc. (United). The Company transports people and cargo through its mainline operations, which use jet aircraft with at least 118 seats, and its regional operations.
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