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Stock Market & Financial Investment News

News Breaks
March 14, 2014
10:37 EDTCACH, ANN, CWTR, ASNAAnn 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 analysts’ 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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November 20, 2014
15:28 EDTANNNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Foot Locker (FL), consensus 79c; ANN Inc. (ANN), consensus 68c; Hibbett Sports (HIBB), consensus 62c; Berry Plastics (BERY), consensus 37c; Sirona Dental Systems (SIRO), consensus 90c.
07:21 EDTANNAnn Taylor November volatility elevated into Q3 and holiday sales outlook
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November 19, 2014
07:16 EDTANNAnn Taylor November volatility elevated into Q3 and outlook
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November 17, 2014
10:02 EDTASNAOn The Fly: Analyst Downgrade Summary
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09:30 EDTASNAAscena Retail downgraded to Market Perform from Outperform at Avondale
November 13, 2014
13:22 EDTANNAnn Taylor November volatility elevated into Q3 and holiday sales outlook
Ann Taylor November call option implied volatility is at 55, December is at 37, January and March is at 34; compared to its 26-week average of 33 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 21.
November 11, 2014
10:00 EDTCACHOn The Fly: Analyst Downgrade Summary
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09:13 EDTCACHCache downgraded to Hold from Buy at Craig-Hallum
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07:49 EDTANNBofA/Merrill retail and consumer analysts hold analyst/industry conference call
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November 10, 2014
16:04 EDTCACHCache reports Q3 EPS (41c), consensus (29c)
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12:36 EDTANNAbercrombie, American Eagle sink after analyst downgrades
Shares of specialty teen apparel retailers Abercrombie & Fitch (ANF) and American Eagle Outfitters (AEO) are falling after a number of analysts issued negative notes on the companies. WHAT'S NEW: Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Perform from Outperform. The company's earnings outlook has become less clear as its U.S. brand has not yet become popular, and retail brand turnarounds usually take awhile, Oppenheimer analyst Anna Andreeva wrote in a note to investors. Additionally, Abercrombie's international business, which has deteriorated further this year, faces "mounting uncertainty,” the analyst stated. The analyst slashed her price target on the name to $30 from $50. Meanwhile, Barclays analyst Matthew McClintock downgraded American Eagle Outfitters to Equal Weight from Overweight. McClintock has become more pessimistic about the outlook for American Eagle's comparative store sales in the second half of 2014, given recent data points from a number of retailers, including Abercrombie & Fitch, Kohl's (KSS), Wal-Mart (WMT), J.C. Penney (JCP), and Ann Inc. (ANN). The analyst said he saw no reason why American Eagle should significantly outperform the overall apparel sector. McClintock cut his price target on the name to $11 from $15. Meanwhile, the analyst lowered his rating on the Softline Retail sector to Negative from Positive, as he believes that the sector, which includes companies that sell products like apparel, towels, and jewelry - is facing structural difficulties that are likely to persist for the next several years. Separately, research firm Janney Capital downgraded Abercrombie to Neutral from Buy in a note to investors today. PRICE ACTION: In early afternoon trading, Abercrombie & Fitch sank 3.5% to $28.50 and American Eagle dropped 4% to $12.40.
05:48 EDTANNU.S. Retail Softlines industry cut to Negative at Barclays
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November 6, 2014
08:04 EDTANNBofA/Merrill retail analysts hold an analyst/industry conference call
Retail Analysts Hutchinson, Ohmes and Chai hold an October Retail Update Analyst/Industry conference call on November 6 at 1 pm.
07:20 EDTANNAnn Inc.: Q3 results reflect brands falling short of expectations
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07:19 EDTANNAnn Inc.: Q4 outlook anticipates continued challenges in retail environment
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07:18 EDTANNAnn Inc. sees FY14 revenue $2.52B, consensus $2.55B
Sees FY14 comparable sales decline in low-single digits. Gross margin rate performance is expected to be 51.2%, including the impact of the aforementioned $13 million of incremental air freight costs. Sees FY14 effective tax rate is expected to be 39%. Sees FY14 CapEx $110M. Total weighted average square footage for fiscal 2014 is expected to increase approximately 2%, reflecting the opening of approximately 50 new stores, partially offset by approximately 45 store closures. The Company expects to have approximately 1,030 stores at fiscal year-end.
07:18 EDTANNAnn Inc. sees Q4 revenue $630M, consensus $641.92M
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07:17 EDTANNAnn Inc. sees Q3 revenue $647M, consensus $666.21M
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