Wednesday, May 24 2017 - 9:30pm
Wednesday, May 24 2017 - 9:00pm
Wednesday, May 24 2017 - 6:00pm
Wednesday, May 24 2017 - 5:15pm
Wednesday, May 24 2017 - 4:00pm
$VRA still expects FY17 selling, general and administrative expenses as percentage of net revenue of 47.3-47.5% and net capital spending of about $20MM. The company predicts diluted weighted-average shares outstanding of 36.9MM and an effective tax rate of 37.6%.
Cloud communication solutions provider $EGHT's 4Q17 net loss widened to $2.92MM, or $0.03 per share, from net loss of $1.07MM, or $0.01 per share during 4Q16. Total revenue during the quarter rose 16% YoY to $66.5MM. Excluding items, $EGHT earned $0.05 per share.
$SPTN continues to expect FY17 cash expenditures of $70-72MM. Depreciation and amortization is now expected to be in the range of $86-88MM due to the addition to Caito. The total interest expense remaining is predicted to be in the range of $25-27MM.
Looking ahead into 2017, $SPTN said it is excited about its growth opportunities and is reaffirming its previously issued adjusted EPS of $2.26-2.35. This guidance is based on the Caito integration, meeting expectations for 2H17 and a return of a modest level of inflation. $SPTN cut EPS outlook to $1.99-2.08 from $2.07-2.19.
$SPTN's comparable store sales excluding fuel for 1Q17 were down 2.2% and reflect a 40 basis point negative impact from the New Year's Day shift. Comp sales were also impacted by competitive new store openings in both Michigan and west regions and the impact of one other in the Northern geography as well as ongoing food deflation.
$SPTN expects a full private brand rollout to take a couple of years, the company will have a meaningful positive effect on that of consumer offering well before that completion. The company continues to build its new business and looks for additional avenues to better serve military heroes.