Fred's (FRED) Tops Q2 EPS by 3c; Offers H216 Outlook
- Wall St. slips as countdown to Trump's swearing-in begins
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- Apple (AAPL) PT Raised to $140 at BofA/Merrill Lynch; iPhone 8 Will be 'Super-Long' Cycle
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
- CP's (CP) Outgoing CEO Hunter Harrison, Activist Paul Hilal Said Set to Target CSX Corp. (CSX)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Fred's (NASDAQ: FRED) reported Q2 EPS of ($0.18), $0.03 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $529.5 million versus the consensus estimate of $536.43 million.
Comparable store sales for the second quarter declined 2.0% versus an increase of 0.9% in the second quarter last year, while comparable store sales for the first half of 2016 decreased 0.6% versus an increase of 0.7% in the prior-year period.
The Company provides the following guidance for the second half of 2016, all excluding any further impact from future expenses related to the 2015 data security incident:
- Based on recent sales trends and our near-term outlook, we expect changes in both total sales and comparable store sales to range from negative 1% to a positive 1% for the second half of the year.
- As we initiate additional competitive strategies, we may see a loss per diluted share for the second half of the year in the range of ($0.18) to ($0.23), with the third quarter loss deeper than the fourth quarter loss.
- In the second half of the year, adjusted EBITDA, which excludes the impact of LIFO, stock-based compensation and non-recurring items, if any, is expected to be in the range of $18 million to $21 million dollars versus an adjusted EBITDA of $34.3 million dollars in the prior-year 2nd half.
For earnings history and earnings-related data on Fred's (FRED) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- GATX Corp. (GATX) Tops Q4 EPS by 11c; Guides In-Line
- Home Bancshares (HOMB) Tops Q4 EPS by 2c
- Canadian Pacific Railway (CP) Tops Q4 EPS by CAD$0.23
Create E-mail Alert Related CategoriesEarnings, Guidance, Retail Sales
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!