DETAILS: Pacific Sunwear of California Inc. said sales at stores open at least a year rose 1 percent. NUMBERS: The Anaheim, Calif., company's net income grew to $17.2 million, or 23 cents per share, in the period that ended on Nov. 2.
In a CNBC exclusive interview, Gordon Nixon, Royal Bank of Canada president & CEO, discusses his decision to step down as CEO of Canada's largest bank and touches on the slowdown in the banking retail business.
With its stock rising, is Tiffany now priced too high? Brian Nagel, Oppenheimer & Co. senior equity research analyst and John Blank, Zacks Investment Research chief equity, debate if the valuations on the luxury jeweler are too rich.
*Slashes full-year EPS view to $0.55- $0.75 from $1.20- $1.50. *Cuts revenue view to $2.15- $2.35 bln from $2.25- $2.45 bln. Dec 5- Farm equipment retailer Titan Machinery Inc slashed its full-year profit forecast as a record corn harvest pulled down prices and left farmers with less money to spend on new tractors and harvesters.
NEWS: Titan Machinery's fiscal third-quarter net income slid 60 percent, hindered by lower agriculture equipment sales and reduced equipment margins due to pricing pressure. DETAILS: Operating expenses rose to $75 million from $64 million, partly because sales in the company's retail locations open at least a year declined 6.5 percent.
NEWS: Freight logistics company UTi Worldwide moved to a loss in its fiscal third quarter, dragged down in part by severance costs. NUMBERS: UTi Worldwide Inc. lost $9.1 million, or 9 cents per share, for the quarter ended Oct. 31. Revenue dipped slightly to $1.15 billion from $1.16 billion, but still beat Wall Street's estimate of $1.14 billion.
NEWS: The Toro Co. reported Thursday that its fourth-quarter net income soared with help from higher prices, lower taxes and internal operating improvements. NUMBERS: Net income grew to $5 million, or 8 cents per share, for the period that ended in October from $251,000, or flat on a per share basis, last year.
NEWS: Conn's Inc. said Thursday that its fiscal third-quarter net income more than doubled from a year ago, as customers bought more furniture, mattresses and computers from its stores. NUMBERS: Net income rose to $24.4 million, or 66 cents per share, in the quarter ending Oct. 31. That compares with $11.8 million, or 35 cents per share, in the same quarter a year ago.
*CEO Nixon to be replaced by executive Dave McKay. TORONTO, Dec 5- Royal Bank of Canada Chief Executive Gordon Nixon will step down next summer after 13 years at the helm of Canada's largest bank, RBC said on Thursday as it announced a stronger-than-expected quarterly profit.
CNBC's Courtney Reagan reports on consumer spending and the disappointing holiday sales numbers thus far.
NEWS: Dollar General's fiscal third-quarter net income climbed 14 percent as traffic improved and shoppers spent more per transaction on average. The discounter also lifted the low end of its full-year adjusted earnings forecast and boosted its stock repurchase authorization by $1 billion.
Dec 5- Kroger Co, the biggest U.S. supermarket operator, on Thursday posted a lower third-quarter profit that matched Wall Street's view, as it continued to appeal to loyal shoppers with competitive prices.
*Extends shareholder agreement with TD Ameritrade to 2021. TORONTO, Dec 5- Toronto-Dominion Bank, Canada's second-biggest bank, said on Thursday its quarterly profit rose 1.6 percent, missing expectations, and it announced a 2- for-1 stock split.
Dec 5- Farm equipment retailer Titan Machinery Inc's quarterly profit more than halved and the company cut its full-year revenue and profit forecasts as equipment sales and margins decline. Titan Machinery's shares fell 11 percent before the bell, after the company said it expected a full-year profit of between $0.55 and $0.75 per share.
Some of the names on the move ahead of the open.
TORONTO, Dec 5- Toronto-Dominion Bank, Canada's second-biggest bank, said on Thursday that its quarterly profit rose 1.6 percent, missing expectations, and it announced a 2- for-1 stock split. Eastern Seaboard, earned C $1.62 billion, or C $1.68 a share, in the fourth quarter ended Oct. 31.
TORONTO, Dec 5- Royal Bank of Canada, the country's largest bank, said on Thursday that its quarterly profit rose 11 percent and that Chief Executive Officer Gordon Nixon would step down next summer after 13 years in his position.
Dec 5- Suit and tuxedo retailer Jos. A. Bank Clothiers Inc, the target of a takeover offer from bigger rival Men's Wearhouse Inc, reported a 2 percent rise in quarterly profit as new promotions boosted total sales. Men's Wearhouse last month bid $1.5 billion for the company after Jos. A. Bank withdrew an offer to buy Men's Wearhouse.
TORONTO, Dec 5- Royal Bank of Canada, the country's largest bank, said on Thursday that its quarterly profit rose 11 percent, driven by stronger retail banking and capital markets income. RBC earned C $2.1 billion, or C $1.40 a share, in the fourth quarter ended Oct. 31. That compared with a profit of C $1.9 billion, or C $1.25 a share, in the year-before period.
TORONTO, Dec 5- Canadian Imperial Bank of Commerce said on Thursday that its quarterly profit slipped 1.9 percent after one-time charges offset a rise in retail and wealth management income. The bank, Canada's fifth-largest, earned C $836 million, or C $2.05 a share, in the fourth quarter ended Oct. 31, compared with C $852 million, or C $2.02 a share, a year earlier.