Content about Guidance

CINCINNATI — Kroger attributed its gains in sales and earnings in the second quarter to cost control and increased customer loyalty and was confident enough to raise its earnings guidance.

The retailer reported net earnings of $279.1 million, or 51 cents per diluted share, compared with net earnings of $280.8 million, or 46 cents per diluted share, for the same period last year.

SAN FRANCISCO — Gap Inc. raised its full year guidance Thursday after reporting first quarter sales and earnings per share growth. For the quarter ended April 28, sales increased 6% to $3.5 billion compared with $3.3 billion for the first quarter last year. The company’s first quarter comparable sales increased 4%. Net income for the first quarter was $233 million, flat compared with the first quarter last year. First quarter diluted earnings per share increased 18% to 47 cents compared with 40 cents last year.

MENOMONEE FALLS, Wis. — Despite dropping from the previous year, Kohl's said its net income for the first quarter ended April 28 was in line with its expectations. The company reported net income of $154 million (63 cents per diluted share) compared with $201 million ($0.69 per diluted share) a year ago. Net sales were $4.2 billion, an increase of 1.9%for the quarter. Comparable-store sales for the quarter increased 0.2 percent.

CINCINNATI — Macy's continues to see improved financial performance, reporting fourth-quarter sales and earnings today that exceeded management’s expectations.

The company reported fourth-quarter earnings per diluted share of $1.74, compared with diluted earnings per share of $1.59 for the fourth quarter of 2010. Sales for the quarter increased 5.5% to $8.7 billion from $8.3 billion last year. Same-store sales for the quarter increased 5.2%.

PHOENIX — Ahead of its analyst and investor presentation Thursday, PetSmart announced that it is raising its third quarter guidance.

The company said it now expects earnings per share for the third quarter to range from 46 cents to 48 cents. Initial guidance called for an EPS range of 41 cents to 45 cents. For the full year, earnings per share guidance is increasing to $2.46 to $2.52 from a previous range of $2.40 to $2.48.

Walmart beat analysts’ second quarter earnings estimates by a penny when it reported earnings per share of $1.09. The company also touted the fact that it was raising its full year profit forecast, although it did so by the one cent of additional profit it had already banked during the second quarter. Walmart said it now expects full year profits to total between $4.41 and $4.51 versus prior guidance of $4.35 to $4.50.

Family Dollar disappointed its investors this week with a third-quarter earning report in which gross margin pressures caused the company to report earnings per share of 91 cents that were four cents shy of analysts’ consensus estimates. The operator of 6,900 stores also said its 4.7% same-store sales increase was short of guidance of 5% to 7% and then used the occasion to lower fourth-quarter sales and earnings forecasts.

BENTONVILLE, Ark. — Walmart reported first-quarter earnings that were above the company's guidance, reflecting stability and strength in global operations, according to president and CEO, Mike Duke.

Walmart's net income was $3.4 billion, or 98 cents per diluted share, compared with net income of $3.3 billion, or 87 cents per diluted share. 

NEW YORK — Apparel retailers across the board experienced strong sales gains in April, thanks in large part to the inclusion of Easter in this year’s reporting period, leading many to raise their quarterly earnings guidance.

The folks in the electronics and entertainment area at Walmart had to be smiling this week at Best Buy’s admission that it lost market share to discounters during the third quarter. The share loss resulted in a 5% same-store sales decline at U.S. stores that was well below guidance that called for flat to modest growth. Earnings per share of 54 cents were well below consensus estimates of 60 cents and full-year guidance was reduced to a range of $3.20 to $3.40 from a range of $3.55 to $3.70.