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Stock Market & Financial Investment News

News Breaks
March 11, 2014
10:36 EDTAPP, URBN, ARO, AEO, GPS, ANFAmerican Eagle, Urban Outfitters fall after earnings reports
Shares of mall-based clothing retailers American Eagle (AEO) and Urban Outfitters (URBN) are sliding after the both companies reported fourth quarter earnings per share that beat analysts' expectations but also sounded cautious notes about the current quarter. WHAT'S NEW: American Eagle reported fourth quarter adjusted earnings per share of 27c which narrowly beat analysts' consensus estimate of 26c. The company's revenue of $1.04B also edged out the consensus estimate of $1.03B, though American Eagle reported fourth quarter same-store-sales fell 7% from last year. The company said it expects its Q1 EPS to breakeven compared to adjusted EPS of 18c last year based on a high single-digit decline in comparable sales and added that "Business conditions remain challenging, with severe winter weather contributing to weak demand." Retail rival Urban Outfitters reported fourth quarter earnings per share of 59c, beating analysts' estimate of 55c, on revenue of $905.9M, which fell below the expectation of $927.86M. The company said comparable retail segment net sales, which include comparable direct-to-consumer channel, increased 1%. Urban Outfitters' CEO said the company will remain "very cautious" about its upcoming first quarter performance due to continued challenges. WHAT'S NOTABLE: During its fourth quarter earnings conference call, American Eagle said business has remained highly competitive and sales trends have been choppy so far this year, though added that it was encouraged by what it saw in the first few weeks of January. The company also noted that its search for a new CEO is under way. OTHERS TO WATCH: Retail rivals to both American Eagle and Urban Outfitters include Abercrombie & Fitch (ANF), Aeropostale (ARO), American Apparel (APP) and Gap (GPS). PRICE ACTION: During morning trading, shares of American Eagle fell 6.2% to $13.33, while Urban Outfitters was down 4.9% to $35.68. Shares of Abercrombie, American Apparel and Gap were all lower as well, though Aeropostale rose over 2% to $7.15 per share.
News For AEO;URBN;ANF;ARO;APP;GPS From The Last 14 Days
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November 17, 2014
18:02 EDTURBNUrban Outfitters says expects to open 35-40 stores in FY15
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16:16 EDTURBNUrban Outfitters CEO says disappointed by results at Urban Outfitters brand
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16:09 EDTURBNUrban Outfitters down 3% following Q3 results
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16:02 EDTURBNUrban Outfitters total inventories increased by $60M as of October 31
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16:01 EDTURBNUrban Outfitters reports Q3 SSS down 1%
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16:01 EDTURBNUrban Outfitters reports Q3 EPS 35c, consensus 41c
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15:16 EDTURBNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Agilent Technologies (A), consensus 89c; Jacobs Engineering (JEC), consensus 86c; Urban Outfitters (URBN), consensus 41c; Omega Protein (OME), consensus 30c.
12:38 EDTURBNUrban Outfitters technical comments ahead of earnings
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11:11 EDTURBNHigh option volume stocks:
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07:46 EDTURBNUrban Outfitters risk/reward remains attractive, says Brean Capital
Brean Capital said the risk/reward for Urban Outfitters remains attractive ahead of its Q3 results, with the firm citing the company's strong balance sheet, solid customer engagement, and potential for top and bottom line expansion. Brean Capital reiterated its Buy rating and $40 price target on Urban Outfitters shares.
07:05 EDTURBNUrban Outfitters volatility elevated into Q3 and outlook
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November 14, 2014
13:39 EDTAPPBigger Capital calls for American Apparel's board to be reconstituted
Bigger Capital Fund and the Bigger Family, collectively owning more than 2M shares of American Apparel announced that they have delivered a letter to American Apparel's board. In the letter, Bigger Capital said, We write to you to express our serious and growing concerns with the company and provide the basis for our conviction that the board must be immediately reconstituted to replace David Danzinger and Allan Mayer with direct representatives of American Apparel's minority shareholders... We renew our call for the resignations of Messrs. Danzinger and Mayer for a number of reasons... we are becoming increasingly concerned that the new Board, led by Co-Chairmen Danzinger and Mayer, is not as committed to protect the interests of all shareholders as we had hoped. For example, this Board never bothered to respond to our July 17th letter or address our concerns in any form. At a time when the Company is suffering ever widening losses, is embroiled in a much publicized investigation of its former CEO, is still absorbing changes in its senior executive team, and the stock is taking a beating, the Board has a heightened responsibility to soothe shareholder concerns and assure us that all is being done to protect our investment. Such disregard of minority shareholders especially at this critical time is inexcusable... As things currently stand, American Apparel is continuing to sustain massive losses and erosion of shareholder value persists. The Company has massively underperformed peers on a profitability basis for years... Our expectation is that the Board will immediately engage with us to work constructively towards a solution along the lines laid out in this letter."
10:00 EDTURBN, ANFOn The Fly: Analyst Downgrade Summary
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06:23 EDTAEOAmerican Eagle implied volatility of 59 at upper end of index mean range
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05:45 EDTURBNUrban Outfitters downgraded to Neutral from Buy at Mizuho
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05:35 EDTANFAbercrombie & Fitch downgraded to Neutral from Outperform at Credit Suisse
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November 13, 2014
10:19 EDTURBNUrban Outfitters volatility up into Q3 and holiday sales outlook
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November 12, 2014
10:00 EDTAEOAmerican Eagle rises on raised Q3 guidance, levels to watch
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08:03 EDTAEOAmerican Eagle raises Q3 adjusted EPS view to 22c from 17c-19c
Consensus is 18c. Including restructuring and asset impairment charges of (17c), GAAP earnings are estimated to be 5c per share. Last year, the company earned adjusted EPS of 19c in the third quarter, which excluded asset impairment charges of (6c). The earnings improvement over last year was primarily due to an improvement in markdowns and lower expenses. Third quarter net revenues declined slightly on a comparable sales decline of 5%. The EPS guidance excludes charges of approximately (17c) primarily due to store impairments and corporate overhead reductions related to the company’s profit improvement initiatives. These actions are expected to enable the company to fund key initiatives and generate savings to strengthen future earnings. “Third quarter earnings exceeded our expectations and margins were ahead of last year. We are encouraged by our ability to reduce promotional activity, particularly given the challenging and highly promotional retail climate,” said Jay Schottenstein, Interim CEO. “The team is making steady progress on merchandise improvements. Yet as we approach the holidays, we remain cautious given the ongoing weakness in mall traffic. The restructuring activities reflect our resolve to strengthen our business to deliver higher profitability and returns to shareholders.” Third quarter ending inventories are expected to be down, consistent with prior guidance.
06:00 EDTAEOAmerican Eagle implied volatility of 60 at upper end of index mean range
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