Express Margins SLIP Despite Promotions and 4 Morning Hot Stocks Demanding Attention
Amazon’s (NASDAQ:AMZN) Kindle launches in India and will be available at the Croma chain throughout the country. Amazon’s India Kindle Store features over a million titles with pricing in rupees.
Clothing retailer Express (NYSE:EXPR) sees gross margins slipping 140 bps to 32.2 percent of sales, with higher promotional activity towards the end of the quarter. The retailer revises guidance for FY12 lower to $1.69-$1.79 from the previous forecast of $1.79-$1.89.
A reported plan by Dean Foods (NYSE:DF) to spin off its WhiteWave-Alpro Foods unit and list it through an IPO has Dean’s shares rise by more than 32 percent as analysts project high valuations for both entities after value is unlocked.
The National Urban League takes up the cudgels for consumers against Nike’s (NYSE:NKE) marketing of its high-priced new Lebron X basketball shoes during the strategic back-to-school shopping season. It appears the NUL received innumerable calls protesting the hard-selling of the $300+ shoes to youngsters.
Toll Brothers (NYSE:TOL) reports net profits of $61.6 million, up 46 percent, amidst positive ordering trends. Net signed contracts rose 57 percent while backlog was up 59 percent. Reservation deposits were higher by 59 percent in the first three weeks of FQ4. CEO Douglas Yearly is upbeat and says, “We are enjoying the most sustained demand we have experienced in over five years.” The company expects home sale revenues to clock between $1.71 billion – $1.84 billion for the year.
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