Shares of Sears Holdings Corp, (SHLD, Financial) jumped more than 3% on Friday after reporting a second-quarter loss of $4.68 per share on $3.18 billion in revenue on Thursday, reflecting a 25.7% year-over-year decline. The company beat revenue expectations by $270 million.
The retailer attributed the decline in revenue to store closures. Total comparable store sales fell 3.9% during the quarter, while same-store sales at Kmart declined 3.7% and Sears saw same-stors store sales drop 4%.
“We continue to close unprofitable stores, and we are hopeful that we can stabilize our store base at a meaningful level in the near future," Chairman and CEO Edward Lampert (Trades, Portfolio) said. "Our goal is to right-size our store footprint to a solid base from which we can operate and grow profitably, while leveraging our online and Shop Your Way platforms."
Shares of Dave & Buster's Entertainment Inc. (PLAY, Financial) climbed nearly 8% after reporting second-quarter results. The company posted earnings of 84 cents per share on $319.2 million in revenue, a 13.7% year-over-year growth. The company beat earnings estimates by 17 cents and revenue expectations by $3.94 million.
On Tuesday, the board of directors declared a quarterly cash dividend of 15 cents per share and increased the total share repurchase authorization to $100 million. It also extended the share repurchase program through the end of fiscal 2020.
Earnings before interest, taxes, depreciation and amortization rose 17.1% from the prior-year quarter to $75 million. As a percentage of total revenues, EBITDA increased 70 basis points to 23.5%. Adjusted EBITDA increased 16.7% to $82.4 million. As a percentage of total revenues, adjusted EBITDA increased 70 basis points to 25.8%.
Looking ahead to full-year 2018, the company expects total revenues between $1.230 billion and $1.25 billion, which is up from the previous guidance of $1.2 billion to $1.24 billion. EBITDA is projected to be between $263 million and $277 million. This is above the prior guidance of $255 million to $275 million.
Shares of Champions Oncology Inc. (CSBR, Financial) advanced more than 20% on Friday after reporting record first-quarter 2019 results on Thursday. The company posted earnings of 5 cents per share on $6.23 million in revenue, an increase of 23.7% year over year. The company managed to beat earnings estimates by 4 cents and revenue expectations by $590,000.
The company registered income from operations of $481,000, including $83,000 in stock-based compensation, and $118,000 in depreciation expenses.
The gross margin was 50.5%, up from 47.5% in the year-ago quarter.Â
Disclosure: The author holds no positions in any stocks mentioned.
