Wednesday, May 24 2017 - 9:30pm
Wednesday, May 24 2017 - 9:00pm
Wednesday, May 24 2017 - 2:00pm
Wednesday, May 24 2017 - 1:30pm
Wednesday, May 24 2017 - 1:00pm
$EMR 3Q15 PR: Segment revenues for Process Management were $2,084MM vs. $2,317MM in 3Q14; Industrial Automation was $990MM vs. $1,289MM in 3Q14; Network Power revenues were $1,028MM vs. $1,237MM in 3Q14; Climate Technologies were $1,125MM vs. $1,191MM in 3Q14 and Commercial & Residential Solutions were $477MM vs. $492MM in 3Q14.
With regards to the credit portfolio outsourcing, $SIG expects the transaction to add to EPS in the first full year of operations based on repurchases at current share prices. One-time transaction costs are estimated to be $35-45MM, which are expected to be largely realized in FY18.
During 1Q17, $ANF’s comparable sales were down 3% for the US and down 2% in international markets. Comparable sales were up 3% for the Hollister brand and down 10% for the Abercrombie brand. Hollister delivered positive comp sales in both US and international markets. $ANF’s gross margin for 1Q17 was 60.3%.
$SIG expects no material impact from the first phase of the outsourcing of credit portfolio to net sales. The outsourcing structure is expected to reduce SG&A expense by 2-3% on annualized basis. In the first phase, the transaction is expected to create savings. The company expects a minimal decline on its EBIT.