The Dow Jones Industrial Average topped the 25,000 mark for the first time ever on a positive day for U.S. equities, which saw financials rise 0.9% by day’s end. The index gained 0.6%, while the S&P 500 Index surged 0.4% and the Nasdaq Composite edged 0.2% higher.
Here’s what you should know:
PriceSmart, Inc. (PSMT)
PriceSmart had a rough quarter that sent shares tumbling late in the day.
The company unveiled first-quarter earnings of its fiscal 2018 roughly at $33.2 million, below the $38.4 million it amassed a year ago. Net income was 74 cents per diluted share, below the 82 cents per share it earned in the year-ago quarter.
The store chain posted total revenues of $767.1 million, which came in ahead of the year-ago mark of $739.6 million. Its net warehouse club sales were 4.1% better than they were a year ago at $745.4 million.
PriceSmart had one more club in operation (40) than it did in the year-ago period (39).
PSMT stock fell 6.7% after the bell Thursday.
Sears Holding Corp (SHLD)
Sears announced that it is cutting down in order to save expenses.
The retailer said that it would be shuttering the doors of 103 of its stores, including 64 Kmart stores and 39 Sears stores. Most of the stores will close by April, Sears added.
Six years ago, the company had 3,510 stores, but the new round of store closures will reduce the total number of locations to only around 940. Kmart was hit hard as it will have 400 stores left by May, below the 941 it had two years ago.
“Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size,” the company said in a statement.
“In the process, as previously announced, we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members,” Sears added.
SHLD shares were 2% higher after the market closed Thursday.
Sonic Corporation (SONC)
Sonic reported on its latest quarter on Thursday, yielding positive results.
The company revealed a bottom line that amounted to $11.83 million, or 30 cents per share, topping the year-ago mark of $11.29 million, or 24 cents per share. Analysts were calling for earnings of 25 cents per share, per Thomson Reuters.
Revenue for the period slipped 18.6% compared to the year-ago mark to $105.43 million. A year ago, Sonic raked in $129.55 million. Analysts polled by Zacks were calling for revenue of $106.6 million.
The restaurant chain’s system same-store sales were down 1.7% due to a 1.6% decrease in same-store sales at franchise drive-ins, as well as a 3.2% fall at company drive-ins. Company drive-in margins fell 0.1%.
SONC stock gained 4.5% after hours yesterday.