Cartridge’s third-quarter net profit of $122 million exceeded expectations

Financial News: according to US financial website MarketWatch reported today that the company’s third-quarter net profit of $122 million, up from the same period last year.

The report showed third-quarter net income of $122 million, or 43 cents per share, up from $112.5 million and 40 cents a year earlier. Excluding some one-time items, adjusted earnings per share for the quarter were 46 cents, above the average 44 cents expected by analysts surveyed by FactSet, a financial information provider. The clothing and accessories retailer reported third-quarter sales of $995.2 million, down from $1.033 billion a year earlier and below the average analyst estimate of $1.02 billion. Cartridge’s North American same-store sales rose 3% in the quarter.

Cartridge said it still expected lower single-digit growth in full-year revenue, with double-digit growth in net profit and earnings per share.

So far this year, its shares have risen 10.6%, compared with a 6.7% gain in the S & P 500 over the same period.

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