In pre-market trade, Best Buy Co Inc (NYSE: BBY) was the top share riser, up 2.70% to US$78 after the electronics retailer beat expectations with its first-quarter earnings and sales.
Net income for the three months came in at US$208mln, or 72 cents a share, up from US$188bn, or 60 cents a share, for the same period last year.
Meanwhile, same-store sales in the US. rose 7.1%, which was more than double analysts’ estimates and the biggest first-quarter jump since 2004.
The company expects second-quarter revenue of between US$9.1bn to US$9.2bn, adjusted EPS of 77 cents to 82 cents, and same-store sales growth of 3% to 4%.
Elsewhere, L Brands Inc (NYSE:LB) saw shares fall around 5% to US$32.25 before the bell after the US fashion retailer slashed its full-year earnings forecast and issued underwhelming profit targets for the current quarter.
The company is behind the Victoria’s Secret and Bath & Body Works down sharply in after-hours trading.
EARNINGS: L Brands EPS Beat $0.17 vs. $0.16 Est. Revs Beat $2.63B vs. $2.59B Est. $LB down 4.6% after hours on weak Q2 EPS guidance pic.twitter.com/XSQGb4P4VL
— CNBC's Closing Bell (@CNBCClosingBell) 23 May 2018
Elsewhere, NetApp Inc (NASDAQ:NTAP) saw shares shed 4.13% to stand at US$64.03 after it posted fourth quarter results despite beating estimates on the top and bottom line.
Its guidance for the first quarter and for the coming full year 2019 was only 'in-line' with analyst expectations.
Last but by no means least, Williams-Sonoma Inc (NYSE:WSM) saw shares rocket over 11% in pre-market deals, after the high-end home furnishings retailer's results smashed Wall Street estimates and the company raised its outlook.