posted third-quarter same-store sales that rose 10.2% and said it expects to beat Wall Street's earnings estimates for the third quarter.
Total sales for the 13-week period ended Oct. 28 rose 10.2% to $1.14 billion from $1.03 billion a year ago.
With stronger than expected sales, a gross margin rate improvement and continued expense control initiatives, Venator now expects to report third-quarter adjusted net income of about 20 cents a share. The consensus estimate for the third quarter, according to
First Call/Thomson Financial
, is 17 cents a share.
Venator also remains comfortable that it can report adjusted earnings per share in the fourth quarter of 35 cents to 38 cents a share. Analysts expect the company to earn 37 cents a share for the period.
The company earned 13 cents a share in the year-ago third quarter and 11 cents a share in the fourth quarter last year.