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Market Minute: Maker of Bushmaster Rifle Eyed for Acquisition

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By DailyFinance Staff

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Kevork Djansezian/Getty ImagesA Smith & Wesson .357 magnum revolver is displayed for customers to rent at the Los Angeles Gun Club.

On Wednesday the Dow Industrials fell 138 points, the S&P 500 lost 22 and the Nasdaq tumbled 60. The market has suffered two of its biggest losses of the year this week.
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Gun makers Smith & Wesson (SWHC) and Sturm Ruger (RGR) have reportedly expressed interest in acquiring Freedom Group, which makes the Remington and Bushmaster brands. The Wall Street Journal says Freedom could be valued at around a billion dollars. Defense contractor Alliant Techsystems (ATK) may also consider a bid.

On the earnings scorecard:

  • Verizon’s (VZ) net rose a better-than-expected 16 percent, as the company continued to add phone and FiOS customers.
  • UnitedHealth Group’s (UNH) profit fell 14 percent. The company also lowered its revenue estimate for the full year.
  • Investors are ready to hang up on phone maker Nokia (NOK) after its sales dropped 20 percent.
  • American Express (AXP) says its net edged up by two percent, but that still beat expectations.
  • EBay’s (EBAY) net rose 19 percent, but the internet retailer’s forecast for the current quarter was bit shy of expectations.
  • After the close we’ll hear from three tech industry giants: Microsoft (MSFT), Google (GOOG) and IBM (IBM).

Apple (AAPL) has lost $300 dollars a share since peaking in September. That’s a drop of more than 42 percent.
The company’s stock briefly dipped below $400 yesterday after a key supplier, Cirrus Logic (CRUS), warned its revenue would fall short of expectations.

The Federal Reserve is apparently considered new measures to make sure some banks are not “too big to fail.” A pair of Fed officials said major financial institutions may be required to hold even higher levels of capital.

And Gap (GPS) says it plans to expand its presence overseas, opening Old Navy stores in China and elsewhere.

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From: http://www.dailyfinance.com/on/smith-wesson-sturm-ruger-bushmaster/

Business, Finance, Occupation & Industry

Gap Inc. Reports March Sales

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By Business Wirevia The Motley Fool

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Gap Inc. Reports March Sales

SAN FRANCISCO–(BUSINESS WIRE)– Gap Inc. (NYS: GPS) today reported that March 2013 net sales increased 7 percent compared with last year.

Net sales for the five-week period ended April 6, 2013 were $1.56 billion compared with net sales of $1.46 billion for the five-week period ended March 31, 2012. Due to the 53rd week in fiscal year 2012, March 2013 comparable sales are compared to the five-week period ended April 7, 2012. On this basis, the company’s comparable sales for March 2013 were down 1 percent compared with an 8 percent increase for March 2012.

“Overall, we’re pleased with the month and are focused on selling our strong spring product to customers across all brands and channels globally,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.

Comparable sales by global brand for March 2013 were as follows:

  • Gap Global: flat versus positive 7 percent last year
  • Banana Republic Global: positive 1 percent versus positive 5 percent last year
  • Old Navy Global: negative 2 percent versus positive 11 percent last year

The company noted that the difference between its 1 percent comparable sales decrease and the 7 percent net sales growth is primarily attributable to the calendar shift of weeks in fiscal March 2013 versus fiscal 2012.

Additional insight into Gap Inc.’s sales performance is available by calling 1-800-GAP-NEWS (1-800-427-6397). International callers may call 706-902-4949. The recording will be available at approximately 1:00 p.m. Pacific Time on April 11, 2013 and available for replay until 1:00 p.m. Pacific Time on April 19, 2013.

April Sales

The company will report April sales on May 9, 2013.

About Gap Inc.

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Fiscal year 2012 net sales were $15.7 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about

From: http://www.dailyfinance.com/2013/04/11/gap-inc-reports-march-sales/

Business, Finance, Occupation & Industry

Gap Inc. to Outline Business Priorities at Investor Meeting on April 17

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By Business Wirevia The Motley Fool

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Gap Inc. to Outline Business Priorities at Investor Meeting on April 17

SAN FRANCISCO–(BUSINESS WIRE)– Gap Inc. (NYS: GPS) today announced that it will host a meeting for the investment community on Wednesday, April 17, 2013 at its headquarters in San Francisco. A live webcast of the presentations will take place from approximately 8:30 a.m. to 12:00 noon Pacific Time.

The company will outline corporate and brand strategies. The following executives will be speaking:

  • Glenn Murphy, Chairman and Chief Executive Officer, Gap Inc.
  • Sabrina Simmons, EVP and Chief Financial Officer, Gap Inc.
  • Steve Sunnucks, Global President, Gap
  • Jack Calhoun, Global President, Banana Republic
  • Stefan Larsson, Global President, Old Navy
  • Art Peck, President, Growth, Innovation and Digital, Gap Inc.

The live webcast will be accessible on the Financial News and Events page at www.gapinc.com/investors. A replay of this event will be available on www.gapinc.com.

Alternatively, audio of the meeting will be accessible via phone by dialing 855-5000-GPS (855-500-0477) for domestic callers or 913-643-0954 for international callers. The conference ID number is 7402090.

About Gap Inc.

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Fiscal year 2012 net sales were $15.7 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,100 company-operated stores, over 300 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

Gap Inc.
Investor Relations:
Katrina O’Connell, 415-427-2832
Investor_relations@gap.com
Media Relations:
Edie Kissko, 415-427-4173
press@gap.com

KEYWORDS:   United States  North America  Canada  California

INDUSTRY KEYWORDS:

The article Gap Inc. to Outline Business Priorities at Investor Meeting on April 17 originally appeared on Fool.com.

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Source: FULL ARTICLE at DailyFinance

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Inland Real Estate Corporation Announces Addition of Ross Dress for Less® at Rivertree Court in Vern

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By Business Wirevia The Motley Fool

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Inland Real Estate Corporation Announces Addition of Ross Dress for Less® at Rivertree Court in Vernon Hills, Ill.

OAK BROOK, Ill.–(BUSINESS WIRE)– Inland Real Estate Corporation (NYS: IRC) , a publicly traded real estate investment trust that owns and operates high quality necessity and value based retail centers in select markets in the Central United States, today announced it has executed the final phase of its redevelopment of the Rivertree Court shopping center in the Chicago suburb of Vernon Hills, Ill., with the addition of a new Ross Dress for Less store (Ross). Ross is one of the largest off-price apparel and home fashion chains in the United States and has signed a lease to occupy 26,555 square feet of space at the center.

“We’re pleased to provide Ross Dress for Less with an attractive space for one of its newer stores,” said Scott Carr, chief investment officer of Inland Real Estate Corporation. “Our shopping centers are community staples, presenting strong locations for Ross Dress for Less to enter the market.”

The Company also recently signed leases with Pier 1 Imports for a 10,400-square-foot space and Shoe Carnival for an 11,250-square-foot store at the center.

The addition of these tenants, scheduled to open in late 2013 and early 2014, will complete IRC‘s repositioning of Rivertree Court, located at 701 Milwaukee Ave. in Vernon Hills within a high-traffic retail shopping hub in a growing area of upper-income housing. Tenants at the center include Gordman’s, Office Depot, Old Navy, Michaels, T.J.Maxx, Ulta and Five Guys Burgers & Fries.


About Inland Real Estate Corporation

Inland Real Estate Corporation is a self-administered and self-managed publicly traded real estate investment trust (REIT) that owns and operates open-air neighborhood, community and power shopping centers and single-tenant retail properties located primarily in the Central United States. As of December 31, 2012, the Company owned interests in 157 investment properties, including 44 owned through its unconsolidated joint ventures, with aggregate leasable space of approximately 15 million square feet. Additional information on Inland Real Estate Corporation is available at www.inlandrealestate.com.


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Source: FULL ARTICLE at DailyFinance