Shares of United Natural Foods Inc. (UNFI, Financial) fell more than 10% on Friday after announcing first-quarter results. The company posted earnings per share of 59 cents and $2.87 billion in revenues, a 16.7% increase from the same trimester of 2017. The company fell 14 cents in earnings estimates, but it beat revenue estimations by $170 million.
The gross margin was 14.38%, lower than the 14.94% registered in the first quarter of the past year, due to a shift in customer mix and higher freight expenses.
In the trimester, the adjusted Ebitda was $86.2 million, higher than $84.8 million for the first quarter of fiscal 2018.
Looking ahead to the fiscal 2019 year, the company expects net sales in between $21.5 and $22 million, with adjusted earnings per share of $1.69 to $1.89.
Shares of Big Lots Inc. (BIG, Financial) tumbled more than 20% on Friday after the company announced a third-quarter loss of 16 cents per share on revenue of $1.15 billion, a 3.6% year-over-year growth. The company fell short of earnings estimates by 16 cents, but beat revenue expectations by $10 million.
Comparable store sales rose 3.4% compared to the guidance range of 2-4%.
Looking ahead to the fourth quarter of fiscal 2018, the company expects income between $2.20 and $2.40 per diluted share, compared to adjusted income of $2.57 per diluted share (non-GAAP) for the fourth quarter of fiscal 2017. For the fiscal 2018, it projects adjusted income in the range of $3.55 to $3.75 per diluted share (non-GAAP).
Shares of Zumiez Inc. (ZUMZ, Financial) fell 3% on Friday after reporting third-quarter results of 55 cents on revenue of $248.8 million. The company beat earnings estimates by 10 cents and revenue estimations were in-line.
Rick Brooks, CEO of Zumiez Inc., said, “The third quarter represented our ninth quarter of positive comparable sales and consisted of meaningful full priced selling throughout the period. With 140 basis points of improvement between product margins and inventory shrink, we were able to offset the loss of a high volume week due to the calendar shift and deliver earnings per share ahead of our expectations.”
For the fourth quarter, the company projects net sales between $295 and $301 million, with net income per diluted share in the range of $1.02 to $1.08.
Disclosure:The author holds no position in any stocks mentioned.
