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Stock Market & Financial Investment News

News Breaks
March 26, 2014
11:40 EDTFRAN, CACH, DLIA, TLYS, BKEFrancesca's sinks after results, guidance trail expectations
Shares of Francesca's (FRAN), which operates retail boutiques offering fashion apparel, jewelry, accessories and gifts, are falling after the company's fourth quarter results and first quarter guidance trailed expectations. WHAT'S NEW: This morning, Francesca's reported Q4 adjusted earnings per share of 27c and revenue of $92.1M, compared to expectations of 28c and $94.33M, respectively. The company reported Q4 same store sales declined 6%. Francesca's forecast Q1 EPS of 20c-24c and Q1 revenue of $85M-$90M, compared to expectations of 28c and $92.05M, respectively. The company forecast Q1 SSS to be down in the low single-digits to up in the low single-digits. The company plans to open approximately 60 new boutiques during Q1. For fiscal year 2014, Francesca's sees EPS of $1.16-$1.31, compared to consensus $1.26, and FY14 revenue of $391M-$409M, versus consensus of about $405M. Francesca's CEO Neill Davis stated, "The headwinds our business experienced as we progressed through January have continued into Q1, impacting our ability to clear through seasonal fall and winter products and resulting in the delay of spring season full-price selling. Although initial customer reaction to our spring apparel fashion is strong, clarity and timing of Spring 2014 customer buying trends remain uncertain." PRICE ACTION: In late morning trading, Francesca's fell $2.71, or about 13%, to $18.15 on more than twice its average daily trading volume. Including today's slide, the stock has lost about 40% over the past twelve months. OTHERS TO WATCH: Other specialty fashion and accessory retailers include Cache (CACH), dELiA's (DLIA), The Buckle (BKE) and Tilly's (TLYS).
News For FRAN;CACH;DLIA;TLYS;BKE From The Last 14 Days
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August 29, 2014
10:07 EDTTLYSTilly's management to meet with Piper Jaffray
Meetings to be held in Milwaukee/Minneapolis on September 5 hosted by Piper Jaffray.
August 27, 2014
18:38 EDTTLYSOn The Fly: After Hours Movers
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16:03 EDTTLYSTilly's sees Q3 EPS 9c-13c, consensus 19c
Sees Q3 comparable store sales to decline in the mid single digits. Q3 revenue consensus $128.71M.
16:02 EDTTLYSTilly's reports Q2 EPS 5c, consensus 5c
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August 22, 2014
13:12 EDTCACHAnn 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%.
12:08 EDTBKEGap hits 52-week high following beat and raise quarter
Shares of specialty apparel retailer The Gap (GPS) are advancing after the company posted better than expected second quarter results, and raised its fiscal 2014 profit outlook. WHAT'S NEW: Last night, Gap reported Q2 earnings per share of 75c and revenue of $3.98B, topping analysts’ consensus estimates of 69c and $3.96B, respectively. Q2 same store sales were flat versus the prior year period. WHAT’S NOTABLE: For FY14, Gap raised its EPS view to $2.95-$3.00 from $2.90-$2.95, versus consensus of $2.95. The company updated its guidance for FY14 diluted EPS to reflect the 5c related to the gain on asset sale. For FY14, the company continues to expect capital spending to be approximately $750M in support of its outlined strategies. Gap also announced it will enter India through franchise-operated Gap brand stores in 2015. Gap is partnering with Arvind Lifestyle Brand Limited, a subsidiary of Arvind Limited, which is one of India’s largest textile companies. The first stores are expected to open in India’s two largest cities – Mumbai and Delhi – starting with Gap’s Summer 2015 collection for adults, kids and babies. The brand plans to open about 40 franchise-operated Gap stores in India. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Research firm Janney Capital upgraded Gap to Buy from Neutral. The firm upgraded shares based on the overall improving Softlines sector due to an inventory correction, Old Navy strength, global opportunities, potential improved gross margin returns on inventory investment, and best-in-class management. Their price target on the shares is $51. Another firm, UBS, said Gap is well positioned for second half upside citing its Omni-channel advantage, shift to higher margin businesses, increased square footage, and modestly positive comps driven by ecommerce. UBS has a Buy rating and a $50 price target on the stock. Sterne Agee says Gap’s valuation is very attractive. The firm believes that Gap's fundamentals are improving, while the setup for the stock over the next 12-18 months is favorable. It adds that the company's gross margins should be boosted by several factors going forward, and it kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Gap rose $2.04, or 4.7%, to $45.22 on heavy trading volume. Earlier in the session, it reached a new 52-week high of $45.47. Including today’s advance, the stock has gained over 7.5% over the past twelve months. OTHERS TO WATCH: Other specialty apparel companies include Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Guess (GES), and The Buckle (BKE).
August 21, 2014
07:02 EDTBKEThe Buckle reports Q2 EPS 51c, consensus 53c
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