Autonation, Inc. (NYSE: AN) reported Q1 EPS of $0.75, in-line with the analyst estimate of $0.75. Revenue for the quarter came in at $4.4 billion versus the consensus estimate of $4.36 billion.
New vehicle comps rose 4 percent.
Segment results(1) for the first quarter of 2014 were as follows:
- Domestic - Domestic segment income(2) was $64 million compared to year-ago segment income of $59 million, an increase of 9%.
- Import - Import segment income(2) was $65 million compared to year-ago segment income of $71 million, a decrease of 8%.
- Premium Luxury - Premium Luxury segment income(2) was $83 million compared to year-ago segment income of $69 million, an increase of 21%.
For earnings history and earnings-related data on Autonation, Inc. (AN) click here.
As part of its annual investor meeting, Gap Inc. (NYSE: GPS) is providing an overview of its strategic initiatives designed to achieve long-term, profitable growth across its portfolio of brands. The company also will highlight its use of technology, innovation and scale as competitive advantages as it makes progress toward bridging the growing digital world with its physical stores to create world-class shopping experiences for its customers.
“We have the world’s best collection of American brands coupled with a strong economic model and runway for global growth,” said Glenn Murphy, chairman and chief executive officer, Gap Inc. “As the retail landscape evolves, we continue to deliver on our omni-channel roadmap and focus on owning the shopping experience of the future.”
The company will discuss its plans to continue driving online growth by leveraging technology and innovation combined with top talent to deliver new digital capabilities to customers and make further progress in mobile, personalization and loyalty programs.
Building upon its current omni-channel suite – including reserve in store, find in store and ship from store – later this year, the company will be testing its new order in store capability, which allows customers instant access to expanded product offerings online. Further, the company is announcing the expansion of its reserve in store service to all Gap stores in the United States by the end of the second quarter, enabling online and mobile shoppers to now reserve items at more than 1,000 Gap and Banana Republic store locations.
In addition to its industry-leading omni-channel capabilities, the company will reaffirm its intention to fuel growth and gain share in the $1.4 trillion global apparel market. Murphy and company executives will discuss plans to grow through expansion in Asia, as well as in its global outlet, online and franchise channels. The company also is excited about the long-term potential of its fast-growing Athleta brand.
Building on Old Navy’s recent debut in mainland China and Gap’s growing store base in the world’s second largest apparel market, the company will highlight China as its largest growth initiative where it expects sales to reach $1 billion in three years.
Gap Inc. leaders also will discuss progress against its move to a seamless inventory model and a more responsive global supply chain, both designed to fulfill customer demand with increased speed and flexibility, while unlocking revenue and gross margin potential.
“In the next five years, we plan to leverage our scale to drive our strategic initiatives – including global growth plans, omni-channel strategies, a seamless inventory model and fully responsive supply chain. We expect these initiatives to contribute meaningfully to our revenue growth and operating profit,” Murphy added.
As it has the last number of years, the company also will underscore its continued commitment to delivering against long-term financial objectives.
“Our goal is to strike a good balance between growing the top and bottom line, as well as returning excess cash to shareholders,” said Sabrina Simmons, executive vice president and chief financial officer, Gap Inc. “Over the past five years, we have increased revenue $1.6 billion, grown EPS at a 15 percent compound annual growth rate and returned an average of $1.6 billion in cash per year via share buybacks and dividends.”
“We have a strong financial track record and we remain focused in our approach to drive value – by driving revenue growth with healthy merchandise margins and leveraging expenses to expand operating margin, as measured on a full year basis,” Simmons added.
In addition to Murphy and Simmons, the following Gap Inc. leaders are slated to provide updates during today’s meeting (in the following order):
-- Art Peck, President, Growth, Innovation and Digital
-- Sonia Syngal, Executive Vice President, Global Supply Chain
-- Tom Keiser, Executive Vice President, Global Product Operations
-- Jeff Kirwan, President, Greater China
-- Steve Sunnucks, Global President, Gap
-- Jack Calhoun, Global President, Banana Republic
-- Stefan Larsson, Global President, Old Navy
A live webcast is accessible on Gap Inc.’s Financial News and Events page at www.gapinc.com/investors from 10:00 a.m. Pacific Time until about 2:30 p.m. Pacific Time today. In addition, audio of this meeting can be accessed by calling 1-855-5000-GPS or 855-500-0477 for domestic callers and 913-643-0954 for international callers. The conference passcode is 8783693. A replay of this event will be available on www.gapinc.com.
Get ready to celebrate!
A Microsoft Specialty Store is coming soon to your neighborhood!
Microsoft Specialty Stores offer a curated selection of the best Microsoft products, including Surface, Xbox, Windows 8 PCs and Phones. Get an exclusive grand opening day only offer, plus a chance to win some prizes. Join us at the malls listed below!
North Point Mall
Thousand Oaks, CA
Jordan Creek Town Center
Des Moines, IA
North Star Mall
San Antonio, TX
The Mall in Columbia
The Maine Mall
S Portland, ME
Mall of Louisiana
Baton Rouge, LA
Boise Towne Square
For more information about these stores, visit http://msft.it/storelocations
Susser Holdings expects to report:
- Same-store merchandise sales growth of approximately 1.9 percent, compared to growth of 4.2 percent for the year-earlier period, which included the Easter holiday. This year, Easter falls in the second quarter.
- Retail average per-store fuel volume growth of approximately 2.0 percent, compared to growth of 4.1 percent for the year-earlier period. Excluding the 47 Sac-N-Pac stores acquired at the end of January, the average gallons per store grew by 4.2% compared to the first quarter of 2013.
Susser Petroleum Partners expects to report total gallons sold of approximately 433 million for the first quarter, an increase of approximately 18% over the first quarter of 2013.
New Locations Update
Susser Holdings opened two new Stripes® convenience stores during the first quarter and acquired 47 convenience stores at the end of January that are currently operating under the Sac-N-Pac brand. The Company operated 629 retail convenience stores as of the end of March, 402 of which included an in-store restaurant offering. The Company has acquired 1 additional convenience store to date in the second quarter, and currently has 17 under construction.
27 new dealer sites were added in the wholesale segment during the first quarter, including 19 acquired in conjunction with the Sac-N-Pac acquistion, and two sites were discontinued for a total of 616 contracted branded sites as of March 31, consisting of 99 consignment locations and 517 other independent branded dealer locations.
Susser Holdings and Susser Petroleum Partners completed sale leaseback transactions for seven new Stripes locations during the first quarter at a total cost of $27.3 million. Since the initial public offering of units in Susser Petroleum Partners was completed in September 2012, Susser has completed sale leaseback transactions for a total of 40 newly-built stores at a cumulative cost of $160.7 million.
Casey's General Stores, Inc. (NASDAQ: CASY) reported March 2014 same-store sales results for stores open for one full year. Same-store sales for prepared food and fountain increased 12.7%, and grocery and other merchandise increased 6.8% in March 2014 compared to March 2013.
Same-store gasoline gallons sold increased 0.9% in March 2014 compared to March 2013. The gasoline margin was below the Company’s fiscal 2014 goal of 15.0 cents per gallon. The average retail price of gasoline sold during March 2014 was $3.43 per gallon.
More Retail SalesView Older Stories
hhgregg, Inc (HGG) Expects Q1 adh.-Loss; Comps Fell 9.9%
Gap (GPS) April Sales Could See Upside on Holiday Shift; Stifel Maintains 'Buy' Rating
Fastenal (FAST) Reports In-Line Q1 EPS of 38c
American Apparel (APP) March Comps Fell 5%; Will Discontinue Monthly Reporting
Gap, Inc. (GPS) March Comps Fell 6%; FY14 EPS Outlook Reaffirmed
Costco Wholesale Corp (COST) Adjusted Comps Rose 7% in March
Bed Bath & Beyond (BBBY) GM Continues Downward Spiral; Wells Fargo Comments on Q4
Stein Mart, Inc. (SMRT) March Comps Increased 0.9%
Buckle, Inc. (BKE) March Comps Fell 1.8% in March
L Brands (LB) Comps Fell 1% in March
The Cato Corporation (CATO) March Comps Fell 5%; Affirms Q1 EPS Outlook
Family Dollar Stores, Inc. (FDO) Misses Q2 EPS by 10c; Guides Below the Street
Rite Aid (RAD) Tops Q4 EPS by 6c; Issues Strong FY15 Outlook
Pier 1 Imports, Inc. (PIR) Tops Q4 EPS by 19c; Guides FY15 EPS
Fred's, Inc. (FRED) March Comps FEll 1.2%
Bed Bath & Beyond, Inc. (BBBY) Reports In-Line Q4 EPS; Issues Light Q1 Outlook
Ruby Tuesday (RT) Reports In-Line Q3 EPS, Revenue Beats, Offers Outlook
Pricesmart, Inc. (PSMT) Tops Q2 EPS by 4c
Zumiez (ZUMZ) March Comps Decline 2.9%
Zumiez, Inc. (ZUMZ) March Comps Fell 2.9%
Analyst Not Sure What Private Equity Sees in Chico's FAS (CHS); Wells Fargo Comments on Leonard Green's Stake
Retailers on Watch as Levi Strauss Reports 53% Drop in Q1 Net Income (JOEZ) (KSS)
Haverty Furniture (HVT) Q1 Sales Miss Expectations; Comps Fell 0.9%
Ford Motor (F) China Sales Rose 28% in March; Q1 Sales Up 45%
UPDATE: Carmax, Inc. (KMX) Misses Q4 EPS Views; Used Comps Up 7%
UPDATE: Carmax, Inc. (KMX) Misses Q4 EPS Views; Used Comps Up 7%
Rite Aid (RAD) March Comps Up 0.7%
Walgreen Company (WAG) Front-End Comps Fell 3.4% in March; Blames Late Easter
Perry Ellis International, Inc. (PERY) Tops Q4 EPS by 3c
Cold Weather Hits AutoNation (AN) Comps in Q1, But Q2 Should Show Solidification - Stifel
AutoNation (AN) New Retail Sales Up 6% in March
Frischs Restaurants (FRS) Reports Q3 EPS of $0.31
Good Times Restaurants (GTIM) FQ214 Comps Rose 17.8%
Jos A Bank Clothiers, Inc. (JOSB) Reports In-Line Q4 EPS
Urban Outfitters (URBN) FQ1 Comps Currently in Low Single-Digit Negative Range
Wedbush Starts CarMax (KMX) at Neutral, Used Unit Comps Seen Slowing
UPDATE: General Motors (GM) March U.S. Auto Sales Rose 4.1%, Outpacing Views on Strong Truck, Chevy Sales
Toyota Motor (TM) U.S. March Sales Up 4.9% vs. 1.3% Gain Expected
UPDATE: Ford ( F) March U.S. Light-Vehicle Sales Rose 3.3% Led by Gains in Fusion, F-150
UPDATE: Chrysler (CGC) U.S. Sales Up 13% in March, Topping Expectations on Strong Jeep, RAM Performance
Finish Line (FINL) Tops Q4 EPS by 2c; Guides FY15 Growth
Restoration Hardware Holdings (RH) Reports In-Line Q4 EPS; Guides
Lululemon (LULU) 'Back in Style', Says Analyst
Wells Fargo First Take on Lululemon Athletica LULU) Q4 and Guidance
GameStop (GME) Misses Q4 EPS by 3c; Guides FY14 Profit Below Consensus
lululemon athletica, inc. (LULU) Tops Q4 EPS by 3c; Issues Light FY14 Outlook
Signet Jewelers (SIG) Tops Q4 EPS by 3c; Guides Q1 EPS, Comps
Vince Holding (VNCE) Tops Q4 EPS by 1c; Guides FY14
Amazon.com (AMZN) Prime Leads Purchase Growth in Feb.; eBay (EBAY) Traffic Remains Flat - Cowen (WMT) (TGT)
Francesca's Holdings Corp. (FRAN) Misses Q4 EPS by 1c; Guides Q1, FY14