— Signet Jewelers Limited (NYSE: SIG) reported a third-quarter 2020 adjusted loss of $0.76 per share versus a loss of $1.08 per share expected.
— Revenue declined by 0.3% to $1.19 billion versus $1.14 billion expected. Same-store sales increased by 2.1%.
— The e-commerce sales rose by 11.4% year-over-year. This accounted for 11.7% of sales, up from 10.5% of total sales in the prior-year quarter. Brick and mortar same-store sales rose 0.9%.
— Sales from North America rose by 0.6% while that from International dropped by 12.4%.
— Looking ahead into fiscal 2020, the company expects same-store sales to decline 1.7-1.0%.
— Total sales outlook is raised to the range of $6.01-6.05 billion from the previous range of $6-6.03 billion for the full year. The consensus estimates sales of $6.02 billion.
— Signet lifted its GAAP EPS guidance to $1.21-1.52 from $0.87-1.33 and its adjusted EPS forecast to $3.11-3.29 from the previous range of $2.91-3.23. This is compared to the analysts’ expectation of $2.90 per share for fiscal 2020.
— For the fourth quarter, total sales are anticipated to be $2.03-2.07 billion and same-store sales are predicted to decline 4-2%. This is compared to the consensus estimates of $2.08 billion.
— The company sees GAAP EPS of $2.99-3.26 and adjusted EPS of $3.01-3.16 for the fourth quarter while the analysts’ expectations stood at $3.15.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard