Ticker Shock: J. Crew, Dillards Post Disappointing Results-Minyanville

Ticker Shock: J. Crew, Dillards Post Disappointing Results

Glenn Curtis Nov 26, 2008 12:00 pm

Ticker Shock: J. Crew, Dillards Post Disappointing Results


		Wednesday's top stories and stocks with potential to move.

Deere (DE)

The well-known agricultural equipment maker was out early this morning with its fourth quarter numbers. It earned 81 cents a share in the period. At first blush, however, it looks like the results included a charge for a factory shutdown. The Street was at 99 cents.

I thought the big news was its comments about 09’. In the release, the company said it’s looking for net income of about $1.9 billion. According to the AP, “analysts predict 2009 profit of $2.32 billion.”

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Needless to say, I think the stock gets hit on this news. However, I do want to keep an eye on the shares because I still believe the company has lots of longer-term promise. If they come down to $25, I plan on revisiting the story.

Dillards (DDS)

The Arkansas based retailer put out its third quarter numbers today. The shares have already gotten slammed this year. Unfortunately, I think they could come down some more.

Excluding items by my math, it posted a loss of 64 cents a share. The Street was expecting a loss of 57 cents. Meanwhile its comp store sales were off a pretty hefty 9%.

Long story short, Dillards isn’t sitting idle. According to the release:

“Capital expenditures in 2009 are expected to be approximately $120 million compared to approximately $192 million in 2008 primarily as a result of dramatically reduced store opening activity.”

The company also announced job cuts.

Still, I'm just not inspired to bottom fish here. Sorry DDS bulls, but I think that there are better opportunities out there.

Have a great day and Happy Thanksgiving!


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tags:

DEERE, TIFFANY, CREW, DILLARDS, DS, ZALE

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