Wednesday, May 24 2017 - 9:30pm
Wednesday, May 24 2017 - 9:00pm
Wednesday, May 24 2017 - 1:00pm
Wednesday, May 24 2017 - 12:30pm
Wednesday, May 24 2017 - 12:00pm
$TAP, which owns brands like Coors Light, Carling and Blue Moon, reported that it has started an underwritten public offering of $2.35Bil shares of Class B common stock. $TAP also intends to give the underwriters a 30-day option to buy up to an additional $235MM shares of Class B common stock.
During 1Q17, $DLTR Enterprise same-store sales rose 0.5%. Same-store sales for the Dollar Tree banner increased 2.5%, while that for the Family Dollar banner fell 1.2%. $DLTR opened 164 stores, expanded or relocated 51 stores, and closed 16 stores. Retail selling square footage at quarter-end was approximately 113.7MM square feet.
In 1Q18, $BBY achieved $50MM in annual cost reductions and gross profit optimization. The company has now reached its $400MM target three fiscal quarters ahead of its original deadline. $BBY is announcing a new target of $600MM in additional cost reduction and gross profit optimization to be completed by the end of FY21.
$SAFM continues to expect grain prices to remain relatively benign for 2H17. The company said there are ample supplies of both corn and soybeans worldwide, and the planting progress of the 2017 corn and soybean crops remains close to average, despite a wet spring in the United States grain belt.
Consolidated net sales rose 4.0% to $5.3Bil in 1Q17, as $DLTR posted a dip in net income to $200.5MM from last year's $232.7MM. Earnings fell to $0.85 per diluted share from $0.98 a share, with gross margin rising to 30.8% in the quarter from 30.6% a year ago.