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Department store retail chain $KSS reported lower net income in 1Q16 due to impairments, store closing and other costs. Net income was $17MM or $0.09 per diluted share compared to $127MM or $0.63 per diluted share in 1Q15. Net sales fell about 4% from last year to $3.97Bil. Excluding impairments, store closing & other costs, diluted EPS was $0.31.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."