Net income was down 4% to $125 million against $130 million on a 4% increase in sales to $1,932 million against $1,860 million that had a 1% currency hit and a stronger than expected 5.7% comp store gain. The results included one time net gains of $3 million this year against a one-time net gain of $22 million last year. However, its guidance calling for a low-single-digit comp gain for the year and mid- to high-single-digit EPS growth was a downgrade from its reiterated forecast last quarter of mid-single-digit comp growth and high-single-digit EPS growth.

While the chain performed well during ... Log in to view full article.