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Friday's Big Day For Investor Meetings: What You Need To Know

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Friday's Big Day For Investor Meetings: What You Need To Know

Friday is shaping up to be a busy day for various companies holding annual meetings.

Here is what you need to know:

J C Penney

J C Penney Company Inc (NYSE: JCP) will host its annual meeting of stockholders in Plano, Texas at 10:00 a.m CT.

J C Penney reported its first quarter results on Wednesday. The company reported a narrower-than-expected loss for the first quarter while comparable sales rose 3.4 percent in the quarter.

J C Penney also issued full year guidance and expects 2015 comparable sales growth of 4 percent to 5 percent, an improvement from a prior forecast of 3 percent to 5 percent growth. The company also projected its gross margins will rise 100 to 150 basis points, and EBITDA for the year will be around $600 million.

Macy's

Macy's, Inc. (NYSE: M) will host its annual meeting of shareholders at the company's offices in Cincinnati, Ohio at 11:00 a.m. ET.

Macy's reported a weaker-than-expected Q1 results on Wednesday in which same-store sales dropped 0.1 percent and operating income fell to $409 million from $443 million in the same quarter a year go.

The company reaffirmed its full year fiscal 2015 earnings per share forecast of $4.70 to $4.80 despite commentary from the post-earnings conference call that suggested the second quarter's earnings per share will be down year-over-year.

Chef's Warehouse

The Chef's Warehouse, Inc (NASDAQ: CHEF) will host its annual meeting of stockholders in Ridgefield, Connecticut at 10:00 a.m. ET.

Chef's Warehouse reported its first quarter results on May 6 in which sales of $198.9 million fell short of the $202.71 million analysts were expecting.

Despite the revenue miss, the company reaffirmed prior guidance that was offered in February and expects full year revenue to fall in a range of $1 billion to $1.1 billion.

Roundy's

Roundy's Inc (NYSE: RNDY) will host its annual meeting of stockholders in Chicago, Illinois at 2:00 p.m. CDT.

Roundy's reported a mixed first quarter results on Wednesday in which the company lost $0.01 per share – better than the $0.03 loss analysts were expecting while revenue of $981.9 million fell short of the $986.31 million expected.

Roundy's reported its same-store sales from continuing operations declined 1.6 percent in the quarter and was attributed towards a 1.9 percent decrease in the number of customers. Looking forward, the company expects further same-stores declines as it projected a decrease of 4 to 5 percent in the second quarter and a decrease of 1.75 to 3.75 percent for the full fiscal year 2015.

QLogic

QLogic Corporation (NASDAQ: QLGC) will host an analyst day presentation at 9:30 a.m ET.

QLogic reported mixed fourth quarter results at the end of April. The company earned $0.28 per share in the quarter, $0.02 better than analysts were expecting while revenue of $133 million fell short of the $135.36 million expected.

Most recently, shares of QLogic were upgraded to Buy from Hold with an announced $19 price target by analysts at Argus Research.

 

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