J.M.Smucker, Hormel: Earnings Central

J.M. Smucker raises sales target, while Hormel Foods ups guidance.
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NEW YORK (

TheStreet

) --

J.M. Smucker (SJM) - Get Report and Hormel Foods (HRL) - Get Report are two of today's most notable earnings in this, TheStreet's rundown of the week's quarterly reports.

FRIDAY'S EARNINGS

J.M. Smucker (SJM) - Get ReportRaises Sales Target

Top Line:

First-quarter sales were flat at $1.05 billion.

Earnings:

Net income rose 5% to $102.9 million. Non- GAAP income was $1.04 per share, higher than consensus target of 96 cents.

Outlook:

The company raised its sales target to slightly above the 3% growth indicated previously and reiterated full-year earnings guidance of $4.50 to $4.60 per share.

Share Performance:

The stock is up 2.5% at $59.53 in Friday trading. See latest

J.M. Smucker stock action

here.

Hormel Foods (HRL) - Get ReportUps Guidance

Top Line:

Third-quarter sales grew 9.9% to $1.73 billion.

Earnings:

Net income rose 10.6% to $85.370 million or 63 cents per diluted share compared to $77.2 million or 57 cents a year earlier. Analysts predicted earnings at 60 cents.

Outlook:

The company raised its full-year guidance to $2.85 to $2.91 a share on an adjusted basis.

Share Performance:

The stock is flat at $43.35 in Friday trading. See latest

Hormel Foods stock action

here.

THURSDAY'S EARNINGS

GAP (GPS) - Get ReportBeats

Top Line:

Gap's revenue rose to $3.32 billion from $3.24 billion, while same-store sales declined 4% at namesake stores, grew 3% at Banana Republic and were up 2% at Old Navy.

Earnings:

The specialty retailer earned $234 million, or 36 cents per share compared with $228 million, or 33 cents, for Gap in the year-ago period. Analysts were calling for a profit of 35 cents on revenue of $3.31 billion.

Outlook:

Gap reiterated its full-year outlook in the range of $1.77 to $1.82 a share, which would be a 12% to 15% increase from last year. Wall Street is looking for a profit of $1.79 a share.

Share Performance:

The stock is up 2.8% at $18.20 in premarket trading. See latest

Gap stock action

here.

Aeropostale (ARO) Outlook Disappoints

Top Line:

Sales grew 9% to $494.7 million from $453 million.

Earnings:

The teen retailer earned $43.6 million, or 47 cents per share, compared with $38.6 million, or 38 cents a year ago. Analysts were expecting 46 cents a share.

Outlook:

Aeropostale expects third quarter earnings in the range of 61 to 63 cents per share, which includes a 4 cent charge related to the retirement of its former chief executive and chairman. Analysts were expecting 72 cents.

Share Performance:

The stock ended Thursday at $23.23. See latest

Aeropostale stock action

here.

Dell (DELL) - Get ReportBeats estimates

Top Line:

Sales grew 22% to $15.5 billion ahead of estimates.

Earnings:

Net income came in at $545 million, or 28 cents a share, up from $472 million, or 24 cents a share, in the year-ago period. Excluding items, Dell earned 32 cents per share, beating estimates by 2 cents.

Outlook:

The company reiterated its fiscal 2011 revenue forecast of 14% to 19% growth, and adjusted operating income growth of 18% to 23%.

Share Performance:

The stock is down nearly 2% in aftermarket trading. See our

live blog on the results here. See latest

Dell stock action

here.

HP (HPQ) - Get ReportReports In-Line With Pre-Announcement

Top Line:

Sales rose to $30.7 billion from $27.5 billion a year earlier.

Earnings:

Net income rose 6.1% to $1.77 billion or 75 cents per share from $1.67 billion or 69 cents per share a year earlier. Excluding restructuring charges, earnings came in at $1.08 per share.

Outlook:

No outlook was provided.

Share Performance:

The stock is down nearly 0.8% in aftermarket trading. See our

live blog on the results here. See latest

HP stock action

here.

Staples (SPLS) Earnings Rise 40%

Top Line:

Revenue was nearly flat at $5.53 billion. That was shy of the $5.64 billion analysts predicted.

Earnings:

Net income rose 40% to $130 million, or 18 cents per share. Adjusted for items, earnings were 20 cents per share, in-line with estimates.

Outlook:

Staples sees third-quarter sales rising in the low single digits with adjusted earnings of 39 cents to 41 cents a share. Staples expects fiscal-year adjusted earnings of $1.25 to $1.29 a share.

Share Performance:

The stock is down 2% at $19.65 in premarket trading. See latest

Staples stock action

here.

GameStop (GME) - Get Report Issues Disappointing Forecast

Top Line:

GameStop revenue increased 3% to $1.8 billion, in-line with expectations.

Earnings:

During the quarter, the video game retailer earned $40.3 million, or 26 cents a share, a 4% increase from $38.7 million, or 26 cents, last year, a penny shy of estimates.

Outlook:

GameStop is looking for third-quarter profit in the range of 35 cents to 38 cents a share, and full-year earnings between $2.58 and $2.68 a share. Analysts were predicting a profit of 39 cents and full-year earnings of $2.63 a share.

Share Performance:

The stock is plunging 8.5% at $19 in premarket trading. See latest

GameStop stock action

Sears (SHLD) Narrows Loss

Top Line:

Total revenue decreased to $10.5 billion for the quarter vs. $10.6 billion a year ago.

Earnings:

Net loss came in at $39 million, or 35 cents per share, versus a year-earlier loss of $94 million, or 19 cents. Adjusted for items, loss was 19 cents per share, beating analyst estimates by a penny.

Outlook:

No outlook was provided.

Share Performance:

The stock is flat in premarket trading. See

latest stock action

here.

WEDNESDAY'S EARNINGS

Target (TGT) - Get Report Meets Expectations

Top Line:

Second-quarter sales rose 3.1% to $15.53 billion.

Earnings:

Profit rose 14% to $679 million, or 92 cents per share, up from $594 million, or 79 cents, a year earlier. Results were in line with forecasts.

Outlook:

No outlook was provided.

Share Performance:

The stock is down 2.5% in premarket trading. See latest

Target stock action

here.

Deere (DE) - Get ReportEasily Beats

Top Line:

Revenue rose 16% to $6.84 billion on stronger sales in U.S. and Canada.

Earnings:

Profit rose to $617 million, or $1.44 per share, up 47% from $420 million, or 99 cents per share. Analysts were expecting $1.24 per share.

Outlook:

For the fourth quarter, Deere said it expects net income of about $375 million.

Share Performance:

The stock is down 0.6% in premarket trading. See latest

Deere stock action

here.

BJ's Wholesale (BJ) - Get ReportMisses, Lowers Guidance

Top Line:

Revenue rose 8.6% to $2.7 billion on higher same-store sales of 4.4%.

Earnings:

Profit rose to $35.8 million, or 67 cents per share, from $35.1 million, or 64 cents per share, missing analyst estimates of 73 cents per share.

Outlook:

For the full year ending in January, BJ's lowered its expectations and now expects to report net income in the range of $128.5 million to $134.5 million, or $2.40 to $2.50 a share. Previous guidance, provided in May, called for net income of $136.9 million to $141.9 million, or $2.58 to $2.68 a share.

Share Performance:

The stock is down 4.7% in premarket trading. See latest

BJ's stock action

here.

TUESDAY'S EARNINGS

Wal-Mart (WMT) - Get Report Lifts Guidance

Top Line:

Second-quarter sales rose 2.8% to $103 billion, slightly below estimates of $105.4 billion.

Earnings:

Wal-Mart reported income from continuing operations attributable to Wal-Mart of $3.6 billion, or 97 cents per share, up from $3.5 billion, or 89 cents, last year. The consensus estimate was 96 cents a share.

Outlook:

Wal-Mart raised its full-year earnings guidance to $3.95 to $4.05 a share from $3.90 to $4 a share citing strength in its underlying operating performance for the first two quarters despite the challenges in the economy.

Share Performance:

The stock is up 0.9% in premarket trading. See latest

Wal-Mart stock action

here.

Home Depot (HD) - Get Report Beats Estimates

Top Line:

Second-quarter sales rose 1.8% to $19.4 billion.

Earnings:

Earnings rose to $1.2 billion or 72 cents per share from $1.1 billion or 66 cents per share a year earlier. Analysts expected 71 cents.

Outlook:

Home Depot said it expects fiscal-year sales to rise 2.6% and earnings from continuing operations to rise by about 22.6% to $1.90 a share.

Share Performance:

The stock is up 2.3 % in premarket trading. See latest

Home Depot stock action

here.

Abercrombie & Fitch (ANF) - Get Report Back in Black

Top Line:

Second-quarter sales jumped 17% to $745.8 million, better than expectations of $727.7 million.

Earnings:

Earnings rose to $19.5 billion, or 22 cents per share, from a loss of $26.7 billion, or 9 cents per share, a year earlier. Analysts expected 16 cents per share.

Outlook:

Abercrombie said it will shutter 60 stores.

Share Performance:

The stock is down 4.8% in premarket trading. See latest

stock action

here.

MONDAY'S EARNINGS

Lowe's (LOW) - Get Report Falls Short

Top Line:

Revenue grew 3.7% to $14.4 billion.

Earnings:

Profit rose 9.6% to $832 million, or 58 cents per share, missing analyst estimates by a penny.

Outlook:

Lowe's predicts fiscal year earnings of $1.38 to $1.45 per share, versus consensus estimates of $1.42 per share.

Share Performance:

The stock is up 2.9% in premarket trading. See latest

Lowe's stock action

here.

JinkoSolar (JKS) - Get Report Beats Estimates

Top Line:

Revenue soared to RMB 900.6 million, or $132 million, 307% higher than the year-ago quarter.

Earnings:

Profit available to common shareholders came in at $24.3 million, or 35 cents per share, versus a loss of $31.8 million, or 63 cents per share. Fully diluted earnings per American depository share was $1.39, significantly beating estimates of 58 cents.

Outlook:

Total revenues for the third quarter are expected to be in the range of $145 million to $155 million. Full year 2010 revenues are to be in the range of $500 million to $525 million.

Share Performance:

The stock is up 5.4% in premarket trading. See latest

JinkoSolar stock action

here.

Sysco (SYY) - Get Report Misses

Top Line:

Revenue rose 14% to $10.3 billion.

Earnings:

Profit rose 7% to $338 million, or 57 cents per share, from $315.3 million, or 53 cents, a year earlier. Analysts were expecting 58 cents.

Outlook:

No outlook was provided.

Share Performance:

The stock closed at $29.98 on Friday. See latest

Sysco stock action

here.

-- Reported by Shanthi Venkataraman in New York.

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