Updated from 11:37 a.m. EST
were among the
losers Monday, falling 2.6% after the company posted fourth-quarter earnings that were better than expected but forecast first-quarter earnings that are below expectations.
Excluding items, the retailer of video games earned $40.8 million, or $1.64 a share, on sales of $809 million. Analysts polled by Thomson First Call were expecting earnings of $1.62 a share on sales of $789.9 million. A year ago the company earned $36.5 million, or $1.45 a share, on sales of $671.5 million. Looking ahead, the company forecast first-quarter earnings of 12 cents to 14 cents a share on sales growth of 30% to 34%. Analysts are expecting earnings of 15 cents a share on sales of $443.3 million, or sales growth of 19%. For the full year, Electronics Boutique forecast earnings of $2.34 to $2.44 a share on sales growth of 15% to 20%. Analysts are expecting fiscal 2006 earnings of $2.43 a share on sales of $2.29 billion, or sales growth of 15%. Shares traded down $1.02 to $38.47.
fell 7.1% after the company delayed its annual report and announced the suspension of two executives. The operator of Italian restaurants said the delay would allow the company to complete work on the previously announced restatements that pertain to fiscal years 2000 through 2003 as well as the first three quarter of 2004. Buca also announced the suspension of interim chief financial officer Dan Skrypek and John Motschenbacher, the company's chief information officer. The two have been "relieved of their duties pending the company's continuing review associated with its 2004 fiscal year-end financial statement closing and audit," the company said. Shares traded down 50 cents to $6.50.
(AZO - Get Report)
fell 12.8% after the auto parts retailer announced the resignation of Steve Odland, who served as chairman, president and chief executive. Odland is leaving the company to serve as
(ODP - Get Report)
chairman and CEO. AutoZone named William Rhodes as its new president and CEO, while J.R. Hyde will serve as interim nonexecutive chairman. In addition to announcing the management changes, AutoZone also said that same-store sales through the first four weeks of the third quarter were down 7%. "While our sales have been a disappointment thus far, we believe the higher gas prices and cooler-than-normal spring across the country has yet to trigger the usual pickup in customer traffic," AutoZone said. The company expects improvement throughout the remaining eight weeks of the quarter. Shares of AutoZone traded down $12.55 to $85.75.