NEW YORK, May 31, 2013 /PRNewswire/ --
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Today, Wall Street Reports announced new research reports highlighting Tiffany & Co. ( NYSE: TIF), J.C. Penney Company, Inc. ( NYSE: JCP), Saks Inc. ( NYSE: SKS), Signet Jewelers Ltd. ( NYSE: SIG), and The Bon-Ton Stores, Inc. (NASDAQ: BONT). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Tiffany & Co. Research Report
On May 28, 2013, Tiffany & Co. (Tiffany & Co.) reported financial results for Q1 FY 2013 (period ended April 30, 2013). The Company's worldwide GAAP net sales increased 9.3% YoY to $895.5 million, while GAAP comparable store sales increased 4% YoY. Net earnings increased to $83.6 million or $0.65 per diluted share, compared to $81.5 million or $0.64 per diluted share in Q1 FY 2012. Commenting on the results, Michael J. Kowalski, Tiffany & Co.'s Chairman and Chief Executive Officer, said, "We are pleased with this start to the year. Worldwide, first quarter sales exceeded our expectations, enabling us to improve our sales leverage on fixed expenses and achieve earnings growth." For FY 2013, the Company expects net earnings in the range of $3.43 to $3.53 per diluted share. The Full Research Report on Tiffany & Co. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/6024_TIF]
J.C. Penney Company, Inc. Research Report
On May 22, 2013, J.C. Penney Company, Inc. (J.C. Penney) announced that its wholly-owned subsidiary, J.C. Penney Corporation, Inc. (JCP), has entered into a new five-year $2.3 billion senior secured term loan credit facility. The size of the facility was increased from the amount of $1.8 billion anticipated in the commitment letter released on April 29, 2013. Proceeds of the term loan credit facility will be used to finance a debt tender offer, and to fund ongoing capital requirements and other general corporate purposes. Ken Hannah, JCP's Chief Financial Officer, said, "We are extremely pleased with the consummation of our term loan and the success of our tender offer. We appreciate the strong demand from investors and their confidence in jcpenney's future. This new funding gives us the financial flexibility to pursue our plans to put the Company back on a path to profitable growth." The Full Research Report on J.C. Penney Company, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/5c04_JCP]
Saks Inc. Research Report
On May 21, 2013, Saks Inc. (Saks) announced its financial results for Q1 FY 2013 (period ended May 4, 2013). The Company posted net income of $20 million or $0.13 per diluted share, compared to $32.1 million or $0.18 per diluted share in Q1 FY 2012. Comparable store sales grew 5.9% YoY. Stephen I. Sadove, Chairman and Chief Executive Officer of Saks, said, "Several merchandise categories showed sales strength during the first quarter, including women's contemporary and advanced designer apparel; dresses; women's shoes; handbags; children's apparel; and men's accessories, shoes, and contemporary apparel. The New York City flagship store sales performance was positive but modestly below the comparable store sales increase of the Company's Saks Fifth Avenue stores in the aggregate for the quarter." The Company expects comparable store sales to grow in the 4% to 6% range for the balance of FY 2013, with modestly higher growth in the second half of FY 2013 than in Q2 FY 2012. The Full Research Report on Saks Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/2e2e_SKS]
Signet Jewelers Ltd. Research Report
On May 23, 2013, Signet Jewelers Ltd. (Signet Jewelers) announced its financial results for Q1 FY 2014 (period ended May 4, 2013). Same store sales increased 6.4% YoY. Diluted EPS grew 17.7% YoY to $1.13. Commenting on the results, Signet Jewelers' Chief Executive Officer Mike Barnes said, "Our US division led our performance, generating same store sales increases of 10.2% at Kay and 6.0% at Jared." For Q2 FY 2013, the Company expects same store sales to increase in the low-to-mid single-digit range, and EPS to be in the range of $0.79 to $0.84, including a $0.06 per share negative impact from the Company's Ultra Stores acquisition. The Full Research Report on Signet Jewelers Ltd. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/520e_SIG]
The Bon-Ton Stores, Inc. Research Report
On May 23, 2013, The Bon-Ton Stores, Inc. (Bon-Ton Stores) reported its operating results for Q1 FY 2013 (period ended May 4, 2013). Comparable store sales increased 1.2% YoY. The Company reported net loss of $26.6 million or $1.41 per diluted share, compared with a net loss of $40.8 million or $2.23 per diluted share in Q1 FY 2012. Commenting on the results, Brendan Hoffman, Bon Ton Stores' President and Chief Executive Officer, said, "Our first quarter financial results reflect meaningful progress on our strategic initiatives. Comparable store sales increased in spite of inclement weather. Enhancements to our eCommerce business again yielded double-digit sales growth while we saw increased penetration of proprietary credit card sales due to concentrated efforts to drive this business. Our gross margin rate benefited from a better balanced merchandise mix and a more effective markdown strategy." The Full Research Report on The Bon-Ton Stores, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/272a_BONT]
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