H. J. Heinz Company (NYSE:HNZ) reported its results for the second quarter. Net income for the food company fell to $237 million (73 cents per share) vs. $251.4 million (78 cents per share) a year earlier. This is a decline of 5.7% from the year earlier quarter. Revenue rose 8.3% to $2.83 billion from the year earlier quarter. HNZ reported adjusted net income of 81 cents per share. By that measure, the company beat the mean estimate of 80 cents per share. It fell short of the average revenue estimate of $2.91 billion.
Heinz Chairman, President and CEO William R. Johnson said: “Led by our trio of growth engines – Emerging Markets, Global Ketchup and our Top 15 brands – reported sales grew more than eight percent and Heinz delivered organic sales growth for the 26th consecutive quarter despite the challenging economic environment in Developed Markets, especially in Australia and U.S. Foodservice. Overall, we saw a combination of continued strength in Emerging Markets, the U.K. and much of Europe, and mixed results in other developed markets, where consumer confidence fell to its lowest level in 30 years.”
Competitors to Watch: Ralcorp Holdings, Inc. (NYSE:RAH), Smart Balance, Inc. (NASDAQ:SMBL), TreeHouse Foods Inc. (NYSE:THS), The Hain Celestial Group, Inc. (NASDAQ:HAIN), Campbell Soup Company (NYSE:CPB), ConAgra Foods, Inc. (NYSE:CAG), Kraft Foods Inc. (NYSE:KFT), General Mills, Inc. (NYSE:GIS), Unilever plc (NYSE:UL), and Unilever N.V. (NYSE:UN).
Ann Inc. (NYSE:ANN) reported net income above Wall Street’s expectations for the third quarter. Net income for Ann Inc. rose to $32.3 million (61 cents per share) vs. $24.2 million (41 cents per share) in the same quarter a year earlier. This marks a rise of 33.4% from the year earlier quarter. Revenue rose 11.6% to $564 million from the year earlier quarter. ANN beat the mean analyst estimate of 57 cents per share. Analysts were expecting revenue of $566.8 million.
Kay Krill, President and CEO commented, “By brand, LOFT generated exceptional results, as compelling product and effective marketing drove significantly higher sales and profitability across all LOFT channels. The Ann Taylor brand delivered solid performance, reflecting outstanding results in the e-commerce channel, solid performance in the factory channel and softer-than-expected sales in the stores channel.”
Competitors to Watch: New York & Company, Inc. (NYSE:NWY), Coldwater Creek Inc. (NASDAQ:CWTR), Christopher & Banks Corp. (NYSE:CBK), The Talbots, Inc. (NYSE:TLB), Charming Shoppes, Inc. (NASDAQ:CHRS), Chico’s FAS, Inc. (NYSE:CHS), Ascena Retail Group Inc (NASDAQ:ASNA), Limited Brands, Inc. (NYSE:LTD), bebe stores, inc. (NASDAQ:BEBE), and Body Central Acquisition Corp. (NASDAQ:BODY).