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J.B. Hunt keeps rolling, but trucks stall
Increased shipping volumes and moderating fuel prices helped J.B. Hunt Transport Services grow second quarter sales 10.1% to nearly $1.4 billion while profits disappointed slightly.
Profits for the period ended June 30 increased to $87.7 million, or 73 cents a share, compared to $80.5 million, or 67 cents a share, during the comparable period the prior year. Earnings per share were a penny less than analysts’ forecast and operating margins contracted to 10.7% from 10.9%.
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Gap same-store sales beat expectations
San Francisco – Gap Inc. substantially improved upon its June 2012 same-store sales performance and beat analyst expectation with a 7% increase in same-store sales last month. In comparison, the retailer’s same-store sales were flat in June of last year and were only expected to rise 4.7% in June of this year, according to estimates from Retail Metrics.
Sales at Gap’s Old Navy helped drive the overall increase. Same-store sales at Old Navy rose 13% in June as a result of seasonal summer promotions.
