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March 14, 2014
10:37 EDTCWTR, ASNA, CACH, ANNAnn Inc. advances after results, strategic realignment announcement
Shares of women's specialty retailer Ann Inc. (ANN) are higher this morning after the company reported fourth quarter results that beat expectations and announced a strategic realignment. WHAT'S NEW: Ann Inc. reported Q4 earnings per share of 10c, which topped analystsí consensus estimate of 7c. The company's revenue came in nearly in-line with the consensus forecast. Ann Taylor brand sales were $246.2M, while Loft brand sales were $377.1M in Q1. Total same store sales for the quarter increased 2.9%, with Ann Taylor brand SSS down 1.1% and LOFT brand SSS up 5.7%. Looking ahead, the retailer forecast first quarter revenue of $600M, SSS approximately flat and gross margin rate performance of 55%. The consensus forecast of analysts for Q1 revenue prior to the report was just over $613M. For fiscal year 2014, the company sees revenue of $2.62B, compared to estimates for $2.64B, and SSS up in the low-single digits. WHAT'S NOTABLE: The retailer announced an organizational strategic realignment in a move to support an integrated stores/ecommerce structure and position the company for accelerated growth and efficiency. As a result of the realignment, the company said it eliminated about 100 positions from its corporate workforce. The company expects to record a pre-tax restructuring charge of approximately $15M in connection with the realignment, most of which will be incurred in Q1. The realignment is expected to result in ongoing annualized pre-tax operating savings of about $25M, and the company sees $15M of this realized in FY14. Chief Executive Officer Kay Krill also announced that Gary Muto was named as president of Ann Inc. Brands. Krill said on the earnings conference call that omnichannel will continue to be a key focus for the company. Krill noted that the company will move forward with plans to enter Mexico with the LOFT brand in the second half of 2014. The executive said that Q1 is "off to a choppy start," adding that "some weeks are good, some weeks are softer." The company will take a "cautious" approach to the quarter given extreme weather conditions, heightened promotional environment and soft traffic. PRICE ACTION: Ann Inc is trading up 4.45%, to $36.43 in mid-morning trading. OTHERS TO WATCH: Shares of Ann Inc. peer Ascena Retail (ASNA) is up about 0.5%, ColdWater Creek (CWTR) is up 2.6% and Cache (CACH) is up fractionally.
News For ANN;ASNA;CWTR;CACH From The Last 14 Days
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October 9, 2015
09:14 EDTASNAOn The Fly: Pre-market Movers
HIGHER: UTi Worldwide (UTIW), up 47.7% after agreeing to be acquired by DSV for $7.10 per share in cash... Ascena Retail Group (ASNA), up 3.5% after GGC Public Equities Opportunities reports 9% stake in the company... Fiat Chrysler (FCAU), up 1.8% after Bloomberg reported that Ferrari's IPO could value the company above $12B. DOWN AFTER EARNINGS: Alcoa (AA), down 2.7%. ALSO LOWER: Tesla (TSLA), down 3.3% after being downgraded to Underweight from Equal Weight at Barclays.
October 8, 2015
19:14 EDTASNAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Helen of Troy (HELE), up 8.6%. ALSO HIGHER: Ascena Retail Group (ASNA), up 5.6% after GGC Public Equities Opportunities reports 9% stake in the company... Tribune Media (TRCO), up 5.7% after announcing that it is exploring strategic monetization alternatives for Tribune Tower and adjacent land... Aduro BioTech (ADRO), up 1.7% after receiving a milestone payment from Janssen Janssen Biotech (JNJ) for submitting an Investigational New Drug Application to the FDA for ADU-214. DOWN AFTER EARNINGS: Ruby Tuesday (RT), up 7.6%... AngioDynamics (ANGO), down 4.3%... Alcoa (AA), down 5%. ALSO LOWER: Gap (GPS), down 5.7% after reporting September Same Store Sales... Verastem (VSTM), down 4% after announcing that it will reduce its workforce by 50% to 20 employees... Super Micro Computer (SMCI), down 16.7% after lowering its first quarter non-GAAP EPS guidance... LDR Holding (LDRH), down 19.4% after reports preliminary third quarter revenue.
16:22 EDTASNAGGC Public Equities Opportunities reports 9% stake in Ascena Retail
GGC Public Equities Opportunities believe that the Common Stock is an attractive investment that is significantly undervalued, presenting an opportunity for a firm such as Golden Gate to become a significant shareholder in a scale, high-quality, and well-managed business at a very attractive valuation.
11:10 EDTASNAOptions with increasing implied volatility
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05:24 EDTASNAStocks with implied volatility movement; ASNA BP
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October 7, 2015
17:11 EDTASNAAscena Retail subsidiary ANN Inc. makes management transition
Ascena Retail announced that Kay Krill is transitioning from President and CEO of subsidiary ANN and has been appointed to ascena's Board of Directors. Gary Muto, who currently serves as President of ANN brands, will succeed Krill as CEO of ANN. Kay Krill has served as President and CEO of ANN INC. since 2005.
11:04 EDTASNAAscena Retail October volatility at 52-week high
Ascena Retail October call option implied volatility is at 76, November is at 65; compared to its 52-week range of 23 to 58, suggesting large price movement.
10:52 EDTASNAOptions with increasing implied volatility
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10:01 EDTASNAOn The Fly: Analyst Initiation Summary
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07:22 EDTASNAAscena Retail initiated with a Neutral at Citi
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October 5, 2015
08:46 EDTASNAAscena Retail reinstated with a Sell at Goldman
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