Diamonds and Dogs
11/29/12
La-Z-Boy Incorporated (LZB)La-Z-Boy Incorporated is not making investors feel comfortable today, down 9.71% at $14.60. The furniture company saw its shares fall apart after missing earnings expectations. La-Z-Boy earned $6.6 million or $0.12 per share, which is down from the $7.9 million or $0.15 per share earned last year. On a positive note, revenue increased 5% year over year to $322.3 million. Regardless, both EPS and revenue missed analysts' expectations of $325.4 million and $0.20 per share. La-Z-Boy CEO, Kurt Darrow said that the operating environment for the furniture industry remains challenging, but company outpaced the industry trends this quarter. The company is trading in the middle of its 52-week range.
Stein Mart Inc. (SMRT)
Stein Mart is looking good today, up 12.78% at $8.56. The apparel retailer saw its shares dress in green after an increase in total sales year over year. Total sales for the period ending November 24th were $109.8 million, an increase of 7.5% from $102.1 million in November of last year. Stein Mart also attracted investors by announcing a special dividend. The special dividend will be $1.00 per common share, with an expected total of about $44 million. The dividend will pay on December 24th to shareholders of record as of December 10th. Stein Mart is trading less than $1.00 from its 52-week high today.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.