Big News Driving These Stocks: New York Times, Abercrombie, Lions Gate, Hasbro, Big Lots
The New York Times Company (NYSE:NYT) said on their Q4 earnings conference call the company will make mandatory contributions of approximately $44M in 2012 and may make discretionary contributions.
Abercrombie & Fitch Co. (NYSE:ANF): In its fiscal fourth quarter results, the Company expects to record material charges, including charges for impairments and write-downs of store-related long-lived assets, other charges related to store closures and lease terminations, and charges associated with legal settlements and the reclassification of the Company’s auction rate securities to trading securities. Excluding these charges, the Company expects to report non-GAAP earnings per share for the quarter of approximately $1.10 to $1.15 Pending finalization of the material charges mentioned above, the comparable U.S. GAAP earnings per share number is not available at this time but will be available when earnings are released on February 15, 2012.
Lions Gate Entertainment Corp. (NYSE:LGF) and Starz Entertainment (NASDAQ:LSTZA), a premium pay TV company, signed a new multiyear film licensing agreement that will bring more than 500 Lionsgate movies to the Starz Entertainment premium channels and services. The comprehensive new agreement is Lionsgate’s first long-term library deal with Starz Entertainment and will provide a significant supply of quality movie programming across all platforms.
AnnTaylor Stores Corp. (NYSE:ANN) expects Q4 sales of $566M vs. the consensus of $577.9M and said gross margin rate is expected to be 49.0%, reflecting a significantly higher-than-anticipated promotional cadence in the Ann Taylor stores channel.
Limited Brands, Inc. (NYSE:LTD) sees a 37c/share gain on sale of Sourcing operations in Q4.
Hasbro’s (NYSE:HAS) board declared a quarterly cash dividend of 36c per common share, an increase of 6c per share from 30c per common share. The dividend will be payable on May 15 to shareholders of record at the close of business of May 1.
Big Lots Inc. (NYSE:BIG) reported retail sales for U.S. operations for Q4 of $1.622B, an increase of 7.7% compared to $1.507B for Q4 of FY10. These results exceeded company guidance which called for a 1%-2% increase in comparable store sales.
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