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Stock Market & Financial Investment News

News Breaks
June 10, 2014
12:19 EDTNWY, CBK, ANN, CHS Christopher & Banks rallies after better than expected results
Shares of women's retailer Christopher & Banks (CBK) are rising after the company's first quarter quarter results topped analysts' consensus estimates, and it confirmed it was on track to deliver on its three-year growth plan. WHAT'S NEW: This morning, Christopher & Banks reported Q1 earnings per share of 7c and revenue of $103.4M, topping estimates of 2c and $103.23M, respectively. Q1 same store sales fell 0.2%. WHAT'S NOTABLE: The company forecast Q2 SSS up in the low to mid single digit range and approximately 100 to 150 bps of gross margin improvement, as compared to the comparable prior year period, largely driven by improved merchandise margins. LuAnn Via, President and CEO, commented, "Looking ahead, additional opportunities to enhance our merchandise offering, further engage our customer and broaden our reach with our marketing programs are expected to result in continued improvement in store productivity. We also plan to accelerate our MPW strategy and end the year with approximately 190 locations in this format, as these stores continue to deliver strong returns. Overall, we are well-positioned to meet our financial goals for the year, and are on track to deliver on our three-year growth plan. PRICE ACTION: In early afternoon trading, Christopher & Banks rose 70c, or 10.53%, to $7.35 on nearly three times its average daily trading volume. Including today's advance, the stock is up approximately 4% over the past 12 months. OTHERS TO WATCH: Other women's retailers include Chico's FAS (CHS), which is up almost 9% after announcing it was exploring a sale to private equity firms, Ann Inc (ANN), and New York & Company (NWY).
News For CBK;CHS;ANN;NWY From The Last 14 Days
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April 13, 2015
10:00 EDTCBKOn The Fly: Analyst Upgrade Summary
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06:40 EDTCBKChristopher & Banks upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Christopher & Banks to Overweight saying the company's real estate strategy will drive higher sales and EBITDA in 2016. Piper also thinks the retailer's full-year trend is achievable and doubled its price target for shares to $10 from $5.
06:22 EDTANNGap, Target, others scrutinized by NY AG over staffing practices, WSJ says
Several major retailer including Gap (GPS) and Target (TGT) are under investigation by New York Attorney General Eric Schneiderman over their staffing practices and whether they require workers to show up or stay home with little notice, The Wall Street Journal reports. Schneiderman sent letters warning Abercrombie & Fitch (ANF), JC Penney (JCP), Urban Outfitters (URBN), TJX Cos (TJX), Ann Inc (ANN), L Brands (LB), Burlington Stores (BURL), Sears Holdings (SHLD), Williams-Sonoma (WSM) and J Crew Group that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. Reference Link
April 9, 2015
09:18 EDTANN, CHSBofA/Merrill retail analysts hold an analyst/industry conference call
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