(Retail earnings roundup updated with GameStop results.)
NEW YORK (
) -- Specialty retailers and department stores are in the spotlight today as they report third-quarter earnings results.
loss widened in the third-quarter, as sales for apparel and appliances remained weak.
During the quarter, the department store lost $218 million, or $1.98 per share, compared with a loss of $127 million, or $1.09, for Sears in the year-ago period.
Sears sales dropped 5% to $9.68 billion, while U.S. same-store sales declined 4.8%. By division, Sears namesake stores posted an 8.2% plunge in comparable sales, while Kmart saw a slight 0.7% slip.
Analysts were calling for a loss of $1.07 per share on revenue of $9.95 billion.
The bigger loss sent Sears shares tumbling 5.5% to $62.56 in premarket trading.
is taking a hit, after reporting mixed third-quarter results.
While profit came in better-than-expected and the video game retailer guided full-year earnings higher, it's sales fell short of estimates.
During the quarter, GameStop earned 38 cents a share, a penny higher than estimates, while sales came in at $1.90 billion, compared with outlooks of $1.96 billion. Same-store sales grew 1%.
GameStop now foresees full-year earnings in the range of $2.63 to $2.69 a share, from prior guidance of $2.58 to $2.68 a share. Wall Street is calling for a smaller profit of $2.62 a share.
For the fourth quarter, management predicts profit between $1.53 to $1.59 a share, versus consensus estimates of $1.51 a share. Same-store sales are expected to be up between 2% and 4% for the holiday period.
Shares of GameStop are dropping 3.3% to $20.31 in early trading.
upped its fourth-quarter guidance after reporting that it plans to increase its share repurchases.
The value-priced department store entered into an agreement with Morgan Stanley to buy back $1 billion of its common stock. The move is part of a $2.5 billion Kohl's repurchase plan announced in 2007.
As a result, Kohl's now foresees fourth-quarter earnings in the range of $1.56 to $1.64 per share, from prior guidance of $1.51 to $1.59 a share. Analysts are calling for a profit of $1.57 a share.
Shares of Kohl's are gaining 1.3% to $53.50 before the bell.
was the winner of the office supply retailers in the third quarter.
The company reported a better-than-expected third-quarter profit, as cost cuts and market share gains boosted the bottom line.
During the quarter, Staples earned $288.7 million, or 40 cents per share, compared with $269.4 million, or 37 cents, last year. Sales inched up 0.3% to $6.54 billion, while North America comparable sales slipped 1%.
Analysts were calling for a profit of 40 cents on revenue of $6.53 billion.
In comparison, rivals
both posted sales declines in their third quarters.
American Eagle Outfitters
reported adjusted earnings that beat Wall Street's forecast by a penny.
During the quarter, the teen retailer earned $33 million, or 17 cents a share, compared with $59.2 million, or 17 cents, last year. Excluding items, American Eagle actually earned 29 cents a share, better than the 28 cents analysts predicted.
Revenue grew to $752 million from $736 million, which fell in-line with estimates.
Shares of American Eagle are advancing 1.6% to $16.10 in pre-market trading.
reported a smaller third-quarter profit, as sales declined. Still, the children's apparel retailer is forecasting an improved 2011 as it corrects fashion missteps.
During the quarter, Children's Place earned $31.2 million, or $1.14 a share, while sales fell 2.1% to $453.4 million.
Analysts were calling for a profit of $1.12 a share for Children's Place on revenue of $462.3 million.
The company previously cut its third-quarter guidance, citing weak demand.
received a boost from back-to-school sales, lifting third-quarter profit ahead of Wall Street's expectations.
During the quarter, the premium denim retailer earned $34.4 million, or 73 cents a share, compared with $33.3 million, or 71 cents, in the year prior. As previously reported, sales climbed 5% to $243.3 million, while comparable sales inched up 0.5%.
Analysts were calling for a profit of 69 cents a share.
Buckle also said that its board approved a one-time special cash dividend of $2.50 a share for shareholders of record on Dec. 3.
posted a 16% jump in third-quarter profit, but shares are slipping before the bell as its outlook for the holiday season may fall short of forecasts.
The off-price retailer earned $121.4 million, or $1.02 a share, for the three-month period, compared with $105.1 million, or 84 cents, last year.
Sales rose 7.5% to $1.87 from $1.74 billion.
Analysts were looking for a profit of $1.02 a share on revenue of $1.85 billion.
Looking ahead, Ross expects fourth-quarter earnings in the range of $1.15 to $1.20 a share, versus Wall Street's estimates of $1.20 a share.
Shares of Ross are falling 1.7% to $64.30 in pre-market trading.
upped its outlook after third-quarter earnings rose more than expected.
During the quarter, the discounter earned $93.2 million, or 73 cents a share, from $68.2 million, or 51 cents, in the year-ago period. Analysts were calling for a much smaller profit of 62 cents a share.
Sales surged 14% to $1.43 billion, lifted by an 8.7% spike in comparable sales.
Looking ahead, the company now foresees full-year earnings in the range of $3.14 to $3.21 a share, a 13 cent boost from prior guidance.
For the holiday period, management sees sales in the "low-to-mid single digit" range, with total sales between $1.72 billion and $1.76 billion. Wall Street is expecting sales of $1.72 billion.
-- Written by Jeanine Poggi in New York.
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