This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Duane Reade Meets Expectations, But 2001 Forecast Falls Short

Earnings Scorecard
Actual Estimated* Year-Ago
$0.51 $0.51 $0.38

Duane Reade (DRD - Get Report) reported fourth-quarter earnings Tuesday that met Wall Street's expectations, but forecast 2001 first-quarter and full-year results that were below analysts' forecasts.

For its fourth quarter ending Dec. 30, Duane Reade earned $9.6 million, or 51 cents a share, up from $6.9 million, or 38 cents a share, in the year-ago period. Two analysts surveyed by First Call/Thomson Financial estimated the New York-based drugstore chain would earn 51 cents a share.

Duane Reade posted fourth-quarter revenue of $287.3 million, up 25.1% from the same quarter a year ago. Same-store sales increased 7.5% from last year's fourth quarter.

The company said it expects to report first-quarter earnings of 12 cents to 14 cents a share, which falls short of the two-analyst consensus of 15 cents a share reported by First Call/Thomson Financial. The company's full-year earnings forecast of $1.48 and $1.52 a share also is below the consensus estimate of $1.58.

Duane Reade plans to open 25 new stores this year, the majority of which will be in the New York region.

On Feb. 16, the company's stock reached a 52-week high of $40 a share on the New York Stock Exchange.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
DRD $3.34 3.73%
AAPL $93.70 -0.60%
FB $101.91 0.90%
GOOG $683.11 -0.15%
TSLA $150.47 4.73%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs