Shares of Ascena Retail Group Inc. (ASNA, Financial) jumped more than 17% on Tuesday after the company announced first-quarter 2019 earnings of 6 cents per share on $1.59 billion in revenue, which was flat year over year. The company beat earnings estimates by 2 cents and revenue expectations by $30 million.
The gross margin declined to $946 million, or 59.4% of sales, from $965 million, or 60.7% of sales, in the prior-year quarter, principally due to higher shipping costs.
Looking ahead to the second quarter, the company expects a non-GAAP loss of 25 cents to 15 cents per share, with net sales of $1.675 billion to $1.705 billion and a gross margin of 54.2% to 54.8%.
Shares of Casey's General Stores Inc. (CASY, Financial) gained more than 5% on Tuesday after announcing second-quarter results. The company posted earnings of $1.80 per share on $2.54 billion in revenue, an 18.1% increase from the year-ago quarter. The company beat earnings estimates by 16 cents and revenue expectations by $10 million.
By segment, total grocery and other merchandise revenue increased 8.1% to $618.3 million, while the gross profit increased 9.3% to $200.2 million. Total prepared food and fountain revenue increased 8% to $283.1 million and the gross profit inched up 10.1% to $176.7 million.
Shares of SeaChange International Inc. (SEAC, Financial) fell 25% on Tuesday after reporting a third-quarter loss of 1 cent per share on $18.61 million in revenue, reflecting a 20.6% year-over-year decline. The company beat earnings estimates by 3 cents and revenue expectations by $1.05 million.
For the fourth quarter, the company projects revenue between $16 million and $20 million and non-GAAP operating results between a loss of 5 cents to 2 cents pershare. Further, for full fiscal 2019, the company has revised its revenue expectations to range between $61 million and $65 million. It also guided for a non-GAAP operating loss between 34 cents and 27 cents per basic share.
Disclosure: The author holds no positions in any stocks mentioned.
