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Carrefour FY21 Profit Rises

Navitas Semiconductor Tanks 17% On Quarterly Results, Outlook

Shares of Navitas Semiconductor Corp. (NVTS) tanked over 17% on Wednesday morning after reporting its fourth-quarter results and outlook for the next fiscal year.

NVTS is currently trading at $9.71, down $2.01 or 17.15%, on the Nasdaq.

Revenues for the quarter rose to $7.3 million from $4.7 million last year. Net loss for the quarter were $119.8 million or $1.23 per share, wider than last year’s loss of $7.3 million or $0.45 per share last year.

On an adjusted basis, net loss from operations for the fourth quarter was $6.9 million or $0.07 per share, compared to $6.3 million or $0.39 per share last year.

Analysts polled by Thomson Reuters estimated loss of $0.08 per share on revenues of 7.4 million for the quarter.

Looking forward, the company expects first-quarter revenues to be about $6.0 to $7.0 million, and full-year 2022 revenues are expected to double to about $48 million.

Herald morning quiz: February 17

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Choice Hotels International Q4 Results Top Estimates – Quick Facts

Choice Hotels International, Inc. (CHH) announced on Wednesday that net income for the fourth quarter soared to $64.08 million or $1.14 per share from $7.87 million or $0.14 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.99 per share, compared to $0.50 per share in the year.-ago quarter.

Total revenues for the quarter surged 47 percent to $284.64 million from $193.39 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.84 per share on revenues of $274.86 million for the quarter. Analysts’ estimates typically exclude special items.

Total revenues for the quarter, excluding marketing and reservation activities, increased from last year to $140.18 million. Domestic system-wide revenue per available room or RevPAR increased 13.9 percent from last year.

During the fourth quarter, the company’s board of directors announced a 6 percent increase to the annual dividend rate to $0.2375 per common share outstanding, effective with the dividend payable on January 18, 2022.

Looking ahead to fiscal 2022, the company expects to drive continued growth in RevPAR and adjusted EBITDA, compared to full-year 2021, including incremental investments that are expected to accelerate long-term growth in 2023 and beyond.

Mytheresa Gains On Q2 Profit, Outlook

YT Netherlands Parent B.V. (MYTE) shares are trading more than 14 percent on Wednesday morning trade after the company reported a surge in second-quarter earnings. The company also raised fiscal 2022 earning outlook.

The company reported second-quarter net profit of 15.7 million euros, compared to 2.1 million euros. On an adjusted basis, earnings were 14.8 million.

Net sales for the quarter were 158.58 billion euros, lower than 187.57 billion a year ago.

The parent company of Mytheresa Group GmbH, expects Gross Merchandise Value or GMV for fiscal 2022 in a range of 755-775 million euros, up 23-26 percent growth. Net sales are projected to be in a range of 700-720 million.

Currently, shares are at $16.25, up 14.68 percent from the previous close of $14.17 on a volume of 312,043. For the 52-week period, the shares have traded in a range of $13.65-$35.57 on average volume of 206,059.

Viking Range Recalls Freestanding Gas Ranges Due Risk Of Gas Leak

Viking Range has recalled about 3,050 Viking 5 series freestanding gas ranges due to risk of gas leak and fire hazard.

According to the statement issued by the U.S. Consumer Product Safety Commission, the rigid gas tubing can separate at the joint to the bake, broil and griddle burners, posing a risk of a gas leak and fire hazard when these burners are in operation.

The recall involves Viking Range Freestanding 5 Series Gas Ranges manufactured between August 10, 2021 and December 1, 2021 and sold in stainless steel, white, and 14 other contemporary colors. The ranges were sold in various surface configurations including all burners or burners with griddle and/or grill.

The recalled products were sold at ABT, Ferguson, Best Buy, Pacific Sales, PC Richard & Son and other stores nationwide from August 2021 through December 2021 for between $5,220 and $19,300.

The company has asked customers to immediately stop using the bake, broil and griddle functions to avoid a risk of gas leak and contact Viking Range to arrange for a free repair by an Authorized Service Provider.

Meanwhile, consumers can continue to use only the top surface burners of the range.

Carrefour FY21 Profit Rises

Carrefour (CRERF.PK,CRRFY.PK,0NPH.L) Wednesday reported fiscal 2021 net income of €1.07 billion compared to €641 million last year.

Adjusted net income rose to €1.16 billion or €1.47 per share from €1.01 billion or €1.26 per share in the previous year.

Sales including VAT was €81.25 billion compared to €78.61 billion last year.

Commenting on the results, CEO Alexandre Bompard said, “Carrefour posted a very strong performance in 2021, confirming the sound execution of its strategic plan. Our omnichannel model continues to expand and attract customers: our digital initiatives place us in a leading position in new markets, our store network is growing at a fast pace – allowing us to achieve our target for openings in growth formats a year ahead of schedule – and we are recording market share gains in our key countries. This commercial momentum is reflected in an equally solid financial performance, with sales growth despite a high comparable base, a marked improvement in our operating profit, particularly in France, and a record level of net free cash flow generation. The Group’s financial position enables to announce a new share buyback. Our Group also stepped up its action in favor of the food transition for all in 2021, in particular regarding inclusion and the fight against climate change, and again exceeded its targets.”