In today’s SEC filings digest, Ulta revenue and earnings rise, Darden Restaurants posts net loss, and Sportsman’s Warehouse beats expectations.
Filing in Focus: Ulta 10-Q, September 11, 2014
Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) announced its financial results for the second quarter of fiscal year 2014, posting revenue and earnings that increased from a year ago. The beauty products retailer saw revenue rise from the year-ago $601.0M to $734.2M, with gross profit rising thanks to a proportionally lower cost of sales. Net income jumped from $44.9M and $0.70 per share to $60.8M and $0.94 per share. Ulta easily beat analyst expectations in both revenue and earnings, with predictions for revenue at $711.4M with $0.82 earnings per share. Ulta announced a $300M share repurchase program and also raised its annual guidance and expects total sales growth and earnings per share growth to be in the 20% range.
Darden Restaurants, Inc. (DRI) announced its first quarter financial results for the 2015 fiscal year, reporting a net loss. The parent company of restaurants including Olive Garden and LongHorn Steakhouse saw revenues tick upward slightly from $1.5B a year ago to $1.6B. During first quarter Darden completed the sale of Red Lobster to Golden Gate Capital for a total $2.1B. Darden now operates in three main segments: Olive Garden, LongHorn Steakhouse, and Specialty Restaurants. The company is focused on what it calls a renaissance of the Olive Garden brand and is exploring ways to improve traffic and growth while ensuring its menu contains a simple and quality array of choices. President and COO Gene Lee remarked that the company is happy with the progress its making, especially with Olive Garden, and is optimistic that the actions the company is taking will affect positive change.
Sportsman’s Warehouse Holdings, Inc. (SPWH) announced its financial results for the second quarter of fiscal year 2014, posting results that beat analyst expectations. The outdoor equipment and apparel retailer reported revenue of $159.5M, a 2.3% increase from the year-ago $155.9M and above analyst expectations at $155.7M. Same-store sales fell 6%, which the company attributes primarily to decreased demand in firearms and ammunition. Net income fell from the year-ago $7.7M and $0.23 per share to $5.1M and $0.12 per share, with adjusted earnings per share dropping from $0.18 to $0.12, beating analyst predictions of $0.10 per share. The company is projecting third quarter sales between $183M and $188M, with earnings between $0.19 and $0.20 per share.← Back to all news