Brand Name Stocks Rising Higher as Investors Like Earnings
The Madison Square Garden Company (NASDAQ:MSG) reported its results for the first quarter. Net income for the company was $25.6 million (33 cents per share).The Madison Square Garden Company beat the mean analyst estimate of 26 cents per share. It beat the average revenue estimate of $358 million.
President and CEO Hank Ratner said: “We are pleased with our second quarter financial results, as we generated double-digit AOCF growth while managing our business through the delayed start to the NBA season. Our solid overall results are a reflection of the breadth and strength of our assets and brands across all three of our business segments. In particular, our MSG Entertainment segment was a strong performer for the second quarter, driven by our recent initiatives with respect to the Radio City Christmas Spectacular franchise. Looking ahead, we remain confident in our Company’s long-term growth opportunities due to our unique and valuable content, as well as our expectations for meaningful incremental revenues and AOCF from the Arena Transformation project.”
Competitors to Watch: Rentrak Corporation (NASDAQ:RENT), Image Entertainment, Inc. (DISK), Discovery Communications Inc. (NASDAQ:DISCA), Odyssey Pictures Corp. (OPIX), Bona Film Group Ltd (NASDAQ:BONA), CBS Corporation (NYSE:CBS), Liberty Media Corp (NASDAQ:LINTA), The Walt Disney Company (NYSE:DIS), and Scorpio East Holdings Ltd. (SEHL).
Ralph Lauren Corporation (NYSE:RL) reported net income above Wall Street’s expectations for the third quarter. Net income for Ralph Lauren Corporation rose to $169 million ($1.78 per share) vs. $168.4 million ($1.72 per share) in the same quarter a year earlier. This marks a rise of 0.4% from the year earlier quarter. Revenue rose 16.6% to $1.81 billion from the year earlier quarter. Ralph Lauren Corporation beat the mean analyst estimate of $1.67 per share. It beat the average revenue estimate of $1.75 billion.
“I am extremely proud of what we have accomplished in the first nine months of the fiscal year,” said Ralph Lauren, Chairman and Chief Executive Officer. “Our design-driven culture is delivering highly desirable products across a growing range of lifestyle sensibilities and merchandise categories. We continue to support this innovation with best-in-class marketing, merchandising and distribution that not only distinguishes us in the marketplace, but also deepens our connection with our customers around the world. The progress we are making at our retail segment is very encouraging, particularly as we continue to invest in new stores and e-commerce worldwide.”
Competitors to Watch: Liz Claiborne, Inc. (NYSE:LIZ), The Warnaco Group, Inc. (NYSE:WRC), Maidenform Brands, Inc. (NYSE:MFB), Jones Apparel Group, Inc. (NYSE:JNY), AccessTel, Inc. (ACCS), Guess?, Inc. (NYSE:GES), Coach, Inc. (NYSE:COH), Blue Holdings Inc. (BLHI), Phillips-Van Heusen Corp. (NYSE:PVH), and V.F. Corporation (NYSE:VFC).
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