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Stock Market & Financial Investment News

News Breaks
March 25, 2014
12:56 EDTCHS, CWTR, NWY, CACH, ANNCache slips after reporting Q4 losses exceed expectations
Shares of women's sportswear and dress retailer Cache (CACH) are slipping after the company reported a fourth quarter losses that were steeper than expected. WHAT'S NEW: Cache reported a fourth quarter adjusted loss per share of 17c, compared to analysts consensus forecast for 8c loss per share. The company reported fourth quarter revenue of $55.8M, also missing expectations, and said same-store sales declined 5.9% in the quarter. WHAT'S NOTABLE: During the company's fourth quarter earnings conference call, Cache said it remains confident in its strategies and expects to show progress towards improving sales productivity and profitability during FY14. Cache said that while a turnaround was not as quick as it had hoped, the company said that it is still making progress. Still, Cache said the first quarter has been soft. The company said it sees a shift in sales favoring the upcoming second quarter due to the timing of Easter and later school proms. The company said its store closing due to snow storms caused it to operate with 1,800 less shopping hours in February versus last year. PRICE ACTION: During afternoon trading, shares of Cache were down 25c or 6.5% to $3.59. OTHERS TO WATCH: Other mall-based women's apparel retailers include Ann Inc. (ANN), Chico's FAS (CHS), Coldwater Creek (CWTR) and New York & Company (NWY).
News For CACH;ANN;CHS;CWTR;NWY From The Last 14 Days
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August 25, 2014
13:10 EDTANNAnn Inc. rises after investors call on board to consider sale
Shares of women's apparel retailer Ann Inc. (ANN) are climbing after investors in the company urged it to consider selling itself. WHAT'S NEW: Two investors in Ann Inc.'s stock - Engine Capital and Red Alder - disclosed this morning that they had sent the company's independent board members a letter in which they called on the company to consider selling itself. Engine Capital is a value oriented, special situations fund, while Red Alder is an investment adviser. The two entities, who made the statements in a press release, said that they own a combined stake of more than 1% in Ann. The retailer is "deeply undervalued" and the board can take action that would significantly increase shareholder value, the investors wrote. After speaking with members of Ann's management team, the two entities said they had hoped that the company would start exploring strategic alternatives, including a sale of the company. However, since the company did not announce that it was beginning such a process, the investors decided to go public with their request, they stated. After conducting extensive due diligence, including studying the valuations at which privately-held retailers have been sold, Engine Capital and Red Alder estimate that Ann Inc could be sold for $50-$55 per share. Moreover, the entities said that several factors, including their decision to go public with their position and the purchase of a 9.5% stake in Ann earlier this year by private equity firm Golden Gate Capital, make "the status quo untenable." They urged Ann Inc. to immediately retain a nationally recognized investment bank and establish a special committee of independent directors to explore strategic alternatives, including a sale. WHAT'S NOTABLE: Ann Inc. shares slid over 3% on Friday after the company reported its Q2 results that morning and said that it experienced softer traffic levels along with sales and margin pressure in the second half of the quarter. PRICE ACTION: In early afternoon trading, Ann gained 4.3% to $39.14.
12:19 EDTANNOn The Fly: Midday Wrap
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10:54 EDTANNHigh option volume stocks
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08:17 EDTANNAnn Inc. increasing fashion assortment, says BofA/Merrill
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06:15 EDTANNEngine Capital, Red Alder urge Ann Inc. to explore strategic alternatives
Engine Capital, together with its affiliates, and Red Alder, who collectively own in excess of 1% of the outstanding shares of ANN Inc., announced that they have delivered a letter to the board of ANN. The letter states that the company is deeply undervalued and that opportunities exist to close the significant valuation gap and unlock shareholder value, including the sale of the company. The letter also stated that ANN could be conservatively worth between $50-$55 per share to a third party acquirer in a sale.
August 22, 2014
13:12 EDTCACH, NWY, ANNAnn 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%.
09:05 EDTANNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: GameStop (GME), up 7.1%... Foot Locker (FL), up 3%... Qunar (QUNR), up 6.9%... The Fresh Market (TFM), up 6.5%... Ross Stores (ROST), up 3.8%. ALSO HIGHER: El Pollo Loco (LOCO), up 5.3% after signing franchisee to 20 unit expansion agreement in Texas... Gap (GPS), up 2.8% after upgraded at Janney Capital following Q2 results above analyst estimates and announcing plans to open the first franchise-operated Gap stores in India in 2015. DOWN AFTER EARNINGS: Aeropostale (ARO), down 8%... Ann Inc (ANN), down 2.7%. ALSO LOWER: Ampio (AMPE), down 4.4% after downgraded at Jefferies...
07:34 EDTANNAnn Inc. sees FY14 revenue $2.56B, consenssu $2.56B
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07:33 EDTANNAnn Inc. sees Q3 revenue $670M, consensus $673.31M
Sees Q3 comparable sales flat to slightly negative.
07:33 EDTANNAnn Inc. reports Q2 SSS down 2.3%
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07:32 EDTANNAnn Inc. reports Q2 Ann Taylor brand sales $250M, LOFT brand sales $398.7M
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07:31 EDTANNAnn Inc. says second half of Q2 proved challenging
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07:31 EDTANNAnn Inc. reports Q2 EPS 70c, consensus 68c
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07:29 EDTCHSChico's FAS September volatility elevated into Q2 and outlook
Chico's FAS September call option implied volatility of is at 38, October is at 34, January is at 29; compared to its 26-week average of 33 according to Track Data. Active put volume suggesting large near term price movement into the expected release of Q2 results before the open on August 27.
August 21, 2014
16:19 EDTNWYNew York & Co. expects to open 5 new outlet stores in Q3
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16:17 EDTNWYNew York & Co. sees Q3 net sales up slightly versus last year
The company sees Q3 SSS, gross margin slightly up. Operating loss is expected to be approximately flat to the year-ago period.
16:14 EDTNWYNew York & Co. reports Q2 EPS 0c, consensus 0c
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16:12 EDTNWYNew York & Co. launches search for new COO after Laura Weil resigns
New York & Company announced that it has initiated a search for a new COO and that Laura Weil, Executive Vice President, COO since June of 2012, has resigned her position with the company effective immediately.
15:15 EDTANNNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Foot Locker (FL), consensus 54c; ANN INC. (ANN), consensus 68c; Hibbett Sports (HIBB), consensus 31c.
15:15 EDTNWYNotable companies reporting after market close
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