Subscribe to RSSJ. Crew Swings to Q4 Profit, Beating View (JCG)
Clothing retailer J. Crew Group, Inc. ( JCG ) said late Tuesday that it swung to a fourth quarter profit, easily beating analyst expectations. The New York-based company reported fourth quarter net income of $40.4 million, or 61 cents per share, compared with a net loss of $13.5 million, or 22 cents per share, in the year-ago period. On average, Wall Street analysts had expected a much lower profit of 46 cents per share. Revenue surged 19% from last year, to $460.6 million, while same-store sales jumped 17%. Same-store sales are considered a key indicator of a retailer’s health, since they measure the performance of stores open at least one year. Looking ahead, the company projected first quarter earnings to range from 48 to 53 cents per share. For the full year 2010, it forecast earnings of $2.20 to $2.30 per share. On average, analysts expect 48 cents for the first quarter and $2.13 for the year. J. Crew shares fell 51 cents, or -1.1%, in premarket trading Wednesday. The Bottom Line Shares of JCG are right near the 52-week highs of $47-$48 a share. The stock has near-term technical support in the $40-$41 price area. We do not currently rate this non-dividend paying stock at this time, but we do follow the company closely. J. Crew Group, Inc. ( JCG ) does not currently pay a dividend. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
See the article here:
J. Crew Swings to Q4 Profit, Beating View (JCG)
Counter
0 Comments
You can be the first one to leave a comment.