Family Dollar (FDO)

Family Dollar 2Q Comp Store Sales Up 3.6%

Family Dollar reported that net sales for the second quarter ended February 27, 2010, increased 4.9% to $2.09 billion from $1.99 billion in the second quarter ended February 28, 2009. Comparable store sales for the quarter increased 3.6%. The Company now expects that earnings for the second quarter will be between $0.75 and $0.80 per diluted share. The Company expects to report second quarter financial results on April 7, 2010, before the market opens.
Everyone is all giddy about retailers' announcements lately that comp store sales are up over last year. We should all keep in mind that at this time last year everyone thought the world was going to melt down. So, these are easy comps to beat.

Mar 5 · 11:04:00 AM · Source: Company Press Release
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by Rich Pike

Ford (F)

Ford Fusion Luring Buyers from Other Brands

Ford announced that Fusion sales to buyers new to Ford rose to 60 percent of total Fusion sales in February, up from 54 percent in January and 49 percent in 2009; Fusion Hybrid sales to buyers new to Ford increased to 82 percent last month from 70 percent in January and 63 percent in 2009.
These look like great numbers for Ford. Fusion’s share of the midsize car segment in 2010 has increased to 12.2 percent, up 4.4 points from the 7.8 percent share in the first two months of 2009. If Ford has a brand winner here, that can propel them for years to come.

Mar 5 · 10:54:00 AM · Source: Company Press Release
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by Rich Pike

Best Buy (BBY)

Best Buy Nears Launch Of Revamped On-Demand Video

NASDAQ.com is reporting that barely a week after Wal-Mart Stores Inc. (WMT) signaled its latest push to sell and rent movies over the Internet, Best Buy Co. (BBY) is preparing to roll out its own, revamped digital-download service.

In an Internet posting, Best Buy said its best customers are allowed one free movie rental download each month from Blue Sky Video by Best Buy, which the retailer said is "coming out soon."
Best Buy in November announced it would develop an on-demand movie and entertainment service as part of a multiyear partnership with streaming service Sonic Solutions' (SNIC) Roxio CinemaNow. The deal, which included Best Buy acquiring warrants to purchase shares of Sonic Solutions' stock, also allowed Best Buy to embed the service on various electronic devices.

Mar 4 · 10:53:00 AM · Source: NASDAQ.com
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by Rich Pike

The Buckle (BKE)

Buckle Same Store Sales Up 5% in Feb

The Buckle announced today that comparable store net sales, for stores open at least one year, for the four-week period ended February 27, 2010 increased 5.1 percent from comparable store net sales for the four-week period ended February 28, 2009. Net sales for the fourweek fiscal month ended February 27, 2010 increased 9.7 percent to $69.4 million from net sales of $63.3 million for the prior year four-week fiscal month ended February 28, 2009.
The Buckle has grown nicely over the years in the center of the US. They are now expanding into the east and west coasts.

Mar 4 · 10:32:00 AM · Source: Company Press Release
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by Rich Pike

News Corp (NWSA)

News Corp Agrees to Sale of bTV to CME

News Corporation announced today it has reached an agreement to sell bTV, its Bulgarian terrestrial TV business, to Central European Media Enterprises (CME), the leading broadcaster in Central and Eastern Europe, for $400 million in cash.
The sale completes News Corporation's program of exiting its substantial Eastern European free-to-air broadcasting businesses. The transaction is subject to regulatory approval by the Bulgarian Commission for the Protection of Competition and other customary closing conditions.

Feb 18 · 12:22:00 PM · Source: Company Press Release
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by Rich Pike

Home Depot (HD)

Home Depot to Add Parking Lot Businesses?

According to Trading markets, Home Depot is taking a hard look at those acres of blacktop surrounding their stores to see if they could support an acre-sized business in the parking lot. Fast-food restaurants, banks or auto-parts stores are the most likely businesses that will pop up on those oceans of asphalt that are no longer practical, said Mike LaFerle, vice president of real estate and construction for the company.
File this under "signs of the times". The 14 stores in the Sacramento region are among the potential locations for the "carve-out" projects, but specific sites have not been identified. We'll keep you posted.

Feb 11 · 2:06:00 PM · Source: Trading Markets
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by Rich Pike

AutoNation (AN)

AutoNation Reports 2009 4th Qtr and 2009 Results

AutoNation reported 2009 fourth quarter GAAP net income from continuing operations of $62 million or $0.36 per share, compared to $73 million or $0.42 per share for the prior year. Fourth quarter 2009 revenue totaled $2.8 billion, compared to $2.6 billion in the year-ago period, an 8% increase.

For the full year ended December 31, 2009, the Company reported GAAP net income from continuing operations of $234 million or $1.32 per share, compared to a GAAP net loss from continuing operations of $1.2 billion or $6.82 per share for the prior year. The Company's revenue for the full year ended December 31, 2009 totaled $10.8 billion, down 20% compared to $13.4 billion in the prior year.
The results look okay until you take a close look at the fact that revenue was down 20% in 2009 from 2008. AutoNation's CEO stated that planning assumption for 2010 industry new unit sales is 11.5 million units with a gradual increase in the selling rate over the course of the year.

Feb 11 · 2:00:00 PM · Source: Company Press Release
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by Rich Pike

Expedia (EXPE)

Expedia Reports 4th Qtr and Full 2009 Results

Expedia's press release is confusing and hard to follow, which does not instill confidence. Here's their section on their cash flow, which might just be the most important thing to look at "Net cash provided by operating activities in 2009 was $676 million and free cash flow was $584 million. Both measures include $207 million from net changes in operating assets and liabilities, primarily driven by an improvement in our merchant hotel bookings in the fourth quarter of 2009 compared to 2008. Free cash flow increased $223 million in 2009 primarily due to growth in our merchant hotel business, lower capital expenditures and higher OIBA, partially offset by occupancy tax assessments and an increase in cash paid for interest and income taxes."
Also, Expedia’s Board of Directors declared a quarterly cash dividend of $0.07 per share of outstanding common stock to be paid to stockholders of record as of the close of business on March 11, 2010, with a payment date of March 31, 2010.

Feb 11 · 1:50:00 PM · Source: Company Press Release
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by Rich Pike