New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
February 20, 2015
12:49 EDTANNOn The Fly: Midday Wrap
Subscribe for More Information
10:01 EDTANNOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
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
Subscribe for More Information
05:54 EDTANNAnn Inc. volatility up into working with JPMorgan on potential sale, report
Subscribe for More Information
February 19, 2015
17:58 EDTANNAnn Inc. working with JPMorgan on potential sale, Bloomberg says
February 17, 2015
13:00 EDTASNAAscena Retail to close Brothers brand
Ascena Retail Group announced that as part of a strategic review of its Justice business, it has decided to close its Brothers brand. Operations are expected to be fully wound down by the end of the company’s fiscal year. Ascena CEO David Jaffe commented, “We are mindful of the impact this decision has on our customers and associates. At this point in its evolution, it is appropriate for Justice to focus on its core girls business, including refinement of its merchandise assortment and overall marketing strategy.” Wind-down costs associated with the decision to close Brothers are not expected to be material to the company’s financials. For FY14, Brothers represented less than 1% of the total Ascena revenue base, and the Brothers brand has been operating at a loss since its inception.
February 13, 2015
10:00 EDTASNAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ametek (AME) upgraded to Outperform at RW Baird... Ascena Retail (ASNA) upgraded to Buy from Hold at KeyBanc... Cabela's (CAB) upgraded to Buy from Neutral at DA Davidson... CoreSite Realty (COR) upgraded to Overweight from Equal Weight at Stephens... Cytokinetics (CYTK) upgraded to Overweight from Neutral at Piper Jaffray... DTS, Inc. (DTSI) upgraded to Outperform at Cowen... Dr Pepper Snapple (DPS) upgraded to Market Perform from Underperform at Wells Fargo... Elizabeth Arden (RDEN) upgraded to Outperform from Market Perform at BMO Capital... EnLink Midstream (ENLC) upgraded to Buy from Hold at Wunderlich... GlaxoSmithKline (GSK) upgraded to Buy from Sell at UBS... Great-West Lifeco (GWLIF) upgraded to Buy from Hold at TD Securities... Himax (HIMX) upgraded to Buy from Neutral at Chardan... Mallinckrodt (MNK) upgraded to Overweight from Neutral at JPMorgan... Medical Properties upgraded to Outperform from Sector Perform at RBC Capital... Microchip (MCHP) upgraded to Buy from Hold at Drexel Hamilton... Orbitz (OWW) upgraded to Neutral from Sell at Goldman... Plains GP Holdings (PAGP) upgraded to Overweight from Equal Weight at Stephens... SanDisk (SNDK) upgraded to Buy from Hold at Drexel Hamilton... SkyWest (SKYW) upgraded to Buy from Hold at Deutsche Bank... Stage Stores (SSI) upgraded at Sterne Agee... Tractor Supply (TSCO) upgraded to Buy from Hold at Argus... Valero (VLO) upgraded to Conviction Buy from Neutral at Goldman... Watsco (WSO) upgraded to Overweight from Equal Weight at Stephens.
07:23 EDTASNAAscena Retail upgraded at KeyBanc
Subscribe for More Information
06:18 EDTASNAAscena Retail upgraded to Buy from Hold at KeyBanc

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use