Yum! Brands, Inc. (YUM) gained 6 percent to $72.01 following its announcement that February same-store sales for its China Division grew about 2 percent, including flat same-store sales at KFC and 13 percent growth at Pizza Hut Casual Dining. The company noted that the timing of Chinese New Year had a positive mid-teen impact on February same-store sales growth for both KFC and Pizza Hut Casual Dining, offsetting a similar negative mid-teen impact in January. For the first quarter, same-store sales for the China Division declined an estimated 20 percent.
VeriFone Systems, Inc. (PAY) rose 7 percent to $21.95. The company announced that its chief executive Douglas Bergeron is stepping down, effective March 12. The company has appointed its chairman, Richard McGinn, to the role of interim CEO, and Leslie Denend as interim Chairman. Verifone also reiterated its guidance for second quarter and full year 2013.
iRobot Corp. (IRBT) gained 9 percent to $24.84. The company raised its first quarter revenue, earnings per share and adjusted EBITDA guidance citing strong quarterly results to date in both its Home Robot and Defense & Security business units. The company also announced the appointment of Alison Dean as its finance chief.
Urban Outfitters Inc. (URBN) declined over 2 percent to $40.50. The company's fourth quarter profit surged from the year-ago quarter, but was below Wall Street estimate by a penny. Revenues rose 17 percent and topped the consensus estimate.
Lakeland Industries Inc. (LAKE) plunged 23 percent to $3.81. The company announced several material developments, including lower than expected sales in the quarter ended January 31, 2013 in Brazil that will likely result in an operating loss from Brazil for the quarter. The company has recorded $11.5 million goodwill impairment charge in Brazil. The company also announced that it is being in default with its TD Bank facility.
by RTT Staff Writer
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