After the bell Monday, the home organization store reported net sales of $216.8 million, flat with the comparable period a year earlier. Analysts surveyed by Thomson Reuters had anticipated slightly-higher revenue of $221.38 million.
Over the three months to February, the company earned adjusted net income of 22 cents a share. Analysts had expected 27 cents a share."While we are clearly disappointed in the degree to which weather negatively impacted the company's results, we note that there was a 700 bps differential in comp performance between stores that were located in areas impacted by the weather versus those that were not," analysts wrote in the report. "Management increased the company's outlook for new store growth and now anticipates growth of 12% (vs. 10% prior). We view this incremental growth as a positive and do not expect it to be a drain on resources as the company moves toward its LT store penetration target," analysts added. Must Read: Warren Buffett's 10 Favorite Growth Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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