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Major Movers on March 28; FIVE, PVH, BBRY, BIIB

Shares of Five Below Inc. (NASDAQ: FIVE) slumped in early trade after the discount retailer, which focuses on teenagers and preteen consumers, late last evening, provided downbeat guidance on the current fiscal year. However, fiscal fourth quarter results edged past analysts’ estimations.

For the quarter which concluded on Feb 2, the Philadelphia PA based Company posted non-GAAP earnings of 39 cents a share compared to 31 cents a share, in the year earlier quarter. Same-store-sales rose 4.4% in the fiscal fourth quarter. Net sales climbed 38% to $173.6 million. Analysts polled by Thomson Reuters were expecting earnings of 38 cents a share on sales of $170 million. Back in January, Five Below forecasted earnings to come in the range of 36 cents to 38 cents a share on sales of $169 million to $172 million. Looking ahead the current fiscal year, the Company anticipates earnings (non-GAAP) of 62 cents to 65 cents on sales range of $516 million to $521 million, missing analysts’ consensus estimate of 71 cents and $533 million, respectively.

Shares of PVH Corp. (NYSE: PVH) fell. Although fiscal fourth-quarter profit climbed more than two times, PVH Corp. said that earnings in the current fiscal year will be weighed due to higher-than-anticipated investments,  linked to its recently  acquisition of Warnaco. The Company said in order to revive Calvin Klein brands (denims and underwear), it will invest more to boost supply chain, and improve marketing and product designing. The Company said that investments will knock off full-year earnings per share by 25 cents.

For the quarter ended Feb 3, PVH Corp. posted a profit of $80.7 million or $1.09 a share, up from $35.5 million or 48 cents a share, in the same period of last year. Stripping out onetime items, non-GAAP earnings came at $1.60 a share, compared to $1.19, in the year earlier quarter. Revenue rose to $1.64 billion from $1.53 billion, in the same quarter of last year. Analysts polled by FactSet Research, on average, were expecting earnings of $1.50 a share on sales of $1.6 billion.

Shares of Blackberry, formerly known as Research in Motion, (NASDAQ: BBRY) climbed on Thursday after the smartphone maker, which recently launched its generation next Z10 model, posted unexpected fiscal fourth quarter profit,

Subscribers’ base and revenue contracted during the quarter though. Revenue contracted to o $2.68 billion from year earlier $4.19 billion

Excluding items, the Ontario Canada based Company reported a profit of 22 cents down sharply from 80 cents a share in the year-earlier quarter but much better than analysts’ consensus forecast for a loss of 29 cents a share on $2.85 billion in revenue, according to a data compiled by Thomson Reuters.

The company’s users’ base shrank to 76 million, from 79 million.

Shares of Biogen Idec Inc. (NASDAQ: BIIB) climbed after the FDA on Wednesday approved the biopharmaceutical company’s new drug, Tecfidera meant to treat multiple sclerosis. Analysts believe that the new oral treatment, which is soon expected to hit the U.S. market, could prove to be next blockbuster by the end of decade. Currently only injectable treatment and intravenous infusions are available for treating MS.


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