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Stock Market & Financial Investment News

News Breaks
November 28, 2012
07:47 EDTANNAnn Inc. reports Q3 total comparable sales up 5.5%
Reports Q3 Ann Taylor comparable sales up 4.3%; Reports Q3 LOFT comparable sales up 6.2%
News For ANN From The Last 14 Days
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October 14, 2014
18:20 EDTANNOn The Fly: After Hours Movers
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16:54 EDTANNAnn Inc. up 8% after nondisclosure agreement with Golden Gate Capital
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16:24 EDTANNAnn Inc. in non-disclosure agreement with Golden Gate Capital
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October 9, 2014
09:41 EDTANNBofA/Merrill retail analysts hold an analyst/industry conference call
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October 7, 2014
11:34 EDTANNChristopher & Banks plummets after cutting Q3 revenue outlook
Shares of specialty women's apparel retailer Christopher & Banks (CBK) are sinking after the company lowered its third quarter revenue outlook. WHAT'S NEW: This morning, Christopher & Banks lowered its Q3 revenue outlook to $114M-$118M from its previous guidance of $122M-$124, trailing the consensus of $123.98M. The company also cut the top end of its Q3 margin forecast, lowering its margin growth outlook to 75-100 basis points from its prior view of 75-125 bps. SG&A dollars for the quarter are expected to be approximately $33.5M-$34M, below its prior guidance of $34M-$34.5M. Christopher & Banks expects its inventory at the end of the quarter will remain higher than the comparable prior year period on a dollar per square foot basis, but at a level lower than at the end of Q2, due to planned higher levels of core inventory. WHAT'S NOTABLE: The company believes sales have been negatively impacted by continued softness in mall traffic and lower than expected sales from its September fashion show. The company noted that the demand for fashion merchandise exceeded planned inventory levels, due to late receipts associated with the West Coast port disruptions. President and Chief Executive Officer LuAnn Via said in a statement, "We believe that the continued softness in traffic trends, coupled with the difficult overall retail environment, have adversely affected our sales as compared to our initial expectations for the quarter." She said the firm assumes promotional activity will continue to be aggressive and that the current environment will continue to be challenging, creating continued pressure on sales and margins. PRICE ACTION: In late morning trading, Christopher & Banks fell $2.69, or about 30%, to $6.40 on nearly four times its average daily trading volume. Despite today's pull-back, the shares have only lost approximately 2% over the past 12 months. OTHERS TO WATCH: Other specialty women's retailers include Chico's FAS (CHS), down 1.28%, Ann Inc. (ANN), down 2.1%, and L Brands (LB), down 1.13%.
07:32 EDTANNAnn opens first LOFT store in Mexico
ANN announced the opening of its first LOFT store in Mexico, continuing the Company's international expansion. The store is located in the Antea Lifestyle Center in Queretaro, with additional locations planned for later this year in Mexico City's Parque Toreo Mall and Puebla's Angelopolis Mall. ANN INC. is working with its franchise partner Grupo Axo to establish its retail presence in Mexico.

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