Week ahead brings another wave of corporate releases and news shaking the international markets. On Tuesday it was the turn for Express, Urban Outfitters, Pacific Sunwear of California and Ralph Lauren, whose shareholders will be enjoying a 100% increase in their quarterly dividend.
Shares at Express Inc. closed Monday at $23.09 and were inactive premarket after the fashion retailer reported fiscal first-quarter earnings rose 20% from a year-earlier period weighed down by debt-reduction costs as margins slipped on slower-than-expected sales growth.
Consequently, Express cut down its full-year earnings estimate to between $1.79 and $1.89 a share from its March forecast of $1.84 to $1.97 a share to reflect costs related to the opening of two flagship locations. The stock has risen 16% so far this year, reminded ‘Market Watch’. Express Inc.
Elsewhere, Urban Outfitters Inc.'s (URBN) saw its fiscal first-quarter earnings fell 8.6% as the apparel retailer posted weaker margins and higher overhead costs, though same-store sales improved. Nevertheless, shares climbed over 5% in after-hours trading, as the profit beat expectations. For the quarter ended April 30, Urban Outfitters reported a profit of $34 million, down from $38.6 million a year earlier. Revenue increased 9% to $569 million, highlighted the company in their statement.
Keeping on with earning reports, Pacific Sunwear of California opened at 1.49 on Monday after released its earnings data on Thursday, May 17th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29. Surf wear retailer’s revenue was up 1.1% compared to the same quarter last year. Pacific Sunwear of California has a 1-year low of $1.11 and a 1-year high of $4.06. The company’s market cap is $100.7 million, analysts following the stock reminded on Tuesday.
Finally, good news for investors lucky enough to hold shares at Ralph Lauren, as the preppy American retailer’s board has declared a 100% increase in the regular quarterly cash dividend on its common stock to $0.40 per share, with the next quarterly dividend payable on July 13 to shareholders of record at the close of business on June 29, 2012.