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Stock Market & Financial Investment News

News Breaks
March 12, 2014
10:32 EDTEXPR, URBN, AEOExpress tumbles after earnings, guidance disappoint
Shares of apparel and accessory retailer Express (EXPR) are tumbling after the company reported fourth quarter earnings per share that fell below analysts' expectations and also guided below analysts' expectations for the new quarter and fiscal year. WHAT'S NEW: Express reported fourth quarter earnings per share of 57c, which fell slightly below analysts' consensus of 59c. The company's revenue of $715.88M was also lower than the consensus estimate of $721.13M. Express blamed a heavier than planned pace of promotions as a major impact to its top line and margins. Express sees FY14 same-store sales in the negative low single digits to flat. The company also guided first quarter earnings per share of 12c-18c, well below analysts' estimations of 41c, and FY14 earnings per share of $1.03-$1.23, missing the $1.58 consensus. Express said the start of FY14 has been "extremely difficult," citing significantly lower traffic, negative comparable sales and the promotional environment remaining intense. The retailer said it expects the promotional environment will continue and that full-year results will be impacted right from the beginning, but it feels optimistic that earnings per share growth will return in the second half of FY14. OTHERS TO WATCH: Retail rivals to Express include American Eagle (AEO) and Urban Outfitters (URBN), both of whom reported on their own fourth quarters in the last two days. It is notable that both American Eagle and Urban Outfitters were downgraded this morning, with Morgan Stanley downgrading American Eagle to Underweight from Equal Weight and Urban Outfitters being downgraded to Equal Weight from Overweight at Barclays. PRICE ACTION: During morning trading, shares of Express fell 10.3% to $16.36.
News For EXPR;URBN;AEO From The Last 14 Days
Check below for free stories on EXPR;URBN;AEO the last two weeks.
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July 21, 2014
16:15 EDTEXPRExpress CEO Michael Weiss to retire in 2015, David Kornberg tapped as successor
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11:04 EDTEXPROptions with increasing implied volatility:
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July 18, 2014
09:18 EDTEXPRFBR Capital 'skeptical' of Sycamore interest in Fred's
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July 15, 2014
07:51 EDTURBNUrban Outfitters weakness a buying opportunity, says Canaccord
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