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Stock Market & Financial Investment News

News Breaks
August 22, 2014
13:12 EDTNWY, ANN, CACH, ASNAAnn Inc. slides after Q2 SSS decline
Shares of women's specialty retailer Ann Inc. (ANN) are sliding after the company said that it experienced softer traffic levels along with sales and margin pressure in the second half of the second quarter. WHAT'S NEW: Ann's Q2 earnings per share was 70c, which is a bit higher than analysts' consensus of 68c. The company's Q2 revenue was $648.7M, which nearly matched analysts' consensus of $648.09M. The clothing retailer cited softer traffic levels and a highly promotional environment pressured sales and margin as the reason for its loss during the second half of the quarter. In addition, LOFT experienced continued softness in basic knit tops, which represented a significant component of its summer assortment. Q2 same-store-sales were down 2.3%. Ann sees Q3 revenue to be $670M, which is a bit lower than analysts' consensus of $673.31M and sees Q3 comparable sales to be flat to slightly negative. The company expects it FY14 revenue to be $2.56B, which matches analysts' $2.56B consensus and anticipates flat comparable sales in FY14. WHAT'S NOTABLE: During the company's conference call, Ann said that Q3 inventories are "conservatively positioned" as it enters the fall season. Ann said that despite the "challenging" retail environment, the retailer noted that it is focused on optimizing full-price sell-through to drive positive comp and increase productivity. Overall, the company believes that it is better positioned to optimize brand growth. PRICE ACTION: During afternoon trading, shares of Ann Inc. fell $1.19, or 3.07%, to $37.62. OTHERS TO WATCH: Ascena Retail (ASNA) is up fractionally, Cache (CACH) is down 1.52%, and New York & Company (NWY) is up 1.84%.
News For ANN;ASNA;CACH;NWY From The Last 14 Days
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March 5, 2015
14:40 EDTANNAnn Inc. volatility elevated into Q4 and outlook
Ann Inc. March call option implied volatility is at 64, April is at 48, June is at 39; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on March 13.
March 4, 2015
12:49 EDTANNAnn Inc. could be valued at $50-$62 at historical takeout multiple, says Mizuho
After Reuters said two private equity firms were competing to buy Ann Inc., Mizuho said historical takeout multiples in softlines could see the company valued at $50-$62 per share. Assuming a discount from historical averages, the stock could still be valued at $38-$44 in a takeout scenario, the firm calculated. Mizuho has a Buy rating and $45 price target on Ann Inc. shares.
10:39 EDTANNAnn Inc. being eyed by multiple private equity suitors, Reuters says
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10:28 EDTANNAnn Inc. jumps 4.6% after Reuters report on interest from multiple PE firms
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10:27 EDTANNBain, Golden Gate, vying to buy Ann Inc., Reuters says
March 3, 2015
16:10 EDTASNAAscena Retail backs FY15 adjusted EPS view 70c-75c, consensus 73c
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16:09 EDTASNAAscena Retail reports Q2 adjusted EPS 7c, consensus 8c
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15:20 EDTASNANotable companies reporting after market close
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10:22 EDTANNGoldman sees weakness ahead for specialty apparel retailers
The stocks of specialty apparel retailers could drop sharply as a result of the cold February weather and bottlenecks at West Coast ports, Goldman Sachs wrote in a note to investors today. WHAT'S NEW: The cold February and port delays will probably cause specialty retailers to report lower than expected profits for the first half of 2015, Goldman analyst Lindsay Drucker Mann forecast. As a result of these factors, the inventories of companies in the sector will probably be backed up all the way to Easter, wrote Mann, adding that foreign exchange fluctuations are also likely to weigh on specialty retailers' profits. The analyst cut her rating on PVH Corp. (PVH) two notches to Neutral from Conviction Buy, predicting that the company's profits would take longer to recover than she previously believed. Among specialty retail stocks, Mann is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN), and Ann Inc. (ANN). She maintained Sell ratings on all three names. The analyst predicted that American Eagle's (AEO) stock could fall further, and maintained a Neutral rating on those shares. WHAT'S NOTABLE: On February 26, Morgan Stanley downgraded Abercrombie & Fitch, citing skepticism about the turnaround prospects of its international business and negative foreign exchange trends. The firm predicted that the company's fiscal 2015 EPS guidance would come in below expectations. However, two firms were recently upbeat on American Eagle, with BMO Capital identifying the company as its favorite name for spring, stating that it expects American Eagle to benefit from the 70s fashion trend. Also, BB&T recently initiated the stock with a Buy rating. PRICE ACTION: In early trading, PVH fell 1.4% to $105.23, Abercrombie & Fitch lost 1.6% to $24, Francesca's declined 2% to $14.62, Ann slid 1.1% to $35.36, and American Eagle lost 1% to $14.80.
07:09 EDTASNABofA/Merrill to hold a conference
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05:57 EDTANNPVH Corp. downgraded to Neutral from Conviction Buy at Goldman
Goldman Sachs downgraded PVH Corp. (PVH) to Neutral from Conviction Buy saying a cold February and port-related product delays in March will push out the company's earnings recovery. Goldman cut its price target for the owner of Calvin Klein and Tommy Hilfiger to $109 from $143. The stock closed Monday up 21c to $106.74. Within the Specialty Apparel space, Goldman is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN) and Ann Inc. (ANN), and it sees "fresh downside risk" to American Eagle (AEO). It says the weather and port issues could "throw cold water on the Specialty rally."
February 20, 2015
12:49 EDTANNOn The Fly: Midday Wrap
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10:01 EDTANNOn The Fly: Analyst Downgrade Summary
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08:13 EDTANNAnn Inc. downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Ann Inc to Neutral based on gross margin concerns. The firm sees incremental shipping costs due to the West Coast situation and promotional activity pressuring results. Price target is $37.
06:03 EDTANNAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
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05:54 EDTANNAnn Inc. volatility up into working with JPMorgan on potential sale, report
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February 19, 2015
17:58 EDTANNAnn Inc. working with JPMorgan on potential sale, Bloomberg says

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