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June 3, 2014
07:17 EDTTREX, STKS, LOW, DFRG, CONN, BAGL, AZO, ABG, BBRG, GPIStifel to hold a conference
2014 Consumer Conference to be held in New York on June 3.
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September 23, 2014
08:06 EDTSTKSThe ONE Group signs hospitality services agreement with Pebblebrook Hotel
The ONE Group Hospitality( STKS) announced that it signed a hospitality services agreement with Pebblebrook Hotel Trust (PEB) to provide food and beverage services at W Los Angeles, Westwood in Los Angeles, California, beginning in 4Q14. In addition to providing pool side restaurant and hospitality services at the hotel, the company will open an STK restaurant in 2015.
07:44 EDTSTKSWedbush to hold a conference
CA Dreamin' Consumer Conference: The NY Edition to be held in New York on September 23.
07:04 EDTDFRGDel Frisco's downgraded to Neutral from Buy at Sterne Agee
September 22, 2014
11:16 EDTAZOAutoZone says business model 'solid'
10:57 EDTAZOAutoZone says every month in Q4 had positive SSS growth
The company notes that August was better than July.
10:36 EDTAZOAutoZone optimistic company can grow in all upcoming quarters
Sees acquisition of Interamerican Motor Corporation as "impressive" growth opportunity, does not see significant overlap with IMC's customer base. Says will open a "handful" of IMC stores in the new FY. Says May was "quite strong," June was "decent," July was "not as strong." Says over time will open more Hub locations at a moderate level. Says maintenance-related categories missed expectations in Q4. Looking to FY15, says Q2, Q3 will have more difficult comparisons, but optimistic company can grow in all upcoming quarters. Says committed to long-term growth strategy. Sees costs "predictable and manageable" in FY15. Sees opportunity for gross margin expansion in retail, commercial businesses. Sees IMC a "slight drag" on gross margins. Views share repurchase as attractive capital deployment strategy. Says can hopefully close IMC deal "within the next week or so." Comments made on the Q4 earnings conference call. AutoZone shares are down 3.84% to $505.98 in mid-morning trading.
10:22 EDTAZOAutoZone falls after results, levels to watch
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09:54 EDTLOWLowe's management to meet with Deutsche Bank
Meeting to be held in San Francisco on September 22 hosted by Deutsche Bank.
08:17 EDTABGLionEye Capital reports 6.2% stake in Asbury Automotive
LionEye Capital disclosed a 6.2% stake in Asbury Automotive and said it may have discussions with the company's management, board and other shareholders regarding measures and changes that would maximize value per share.
07:06 EDTAZOAutoZone opened 83 new U.S. stores, 28 new stores in Mexico, 1 in Brazil in Q4
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07:03 EDTAZOAutoZone reports Q4 EPS $11.28, consensus $11.26
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September 19, 2014
18:20 EDTLOWLowe's CEO Niblock sells nearly $28M of company stock near record high
In regulatory filings, it was disclosed that Lowe's CEO Robert A. Niblock sold nearly $28M worth of company stock from September 9-11. Lowe's stock has been climbing steadily over the past three months, and it made both a 52-week and record high of $54.81 on Friday, September 19.
September 18, 2014
10:40 EDTLOWPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
09:36 EDTCONNConn's to host analyst and investor day
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September 16, 2014
07:56 EDTDFRGPiper Jaffray to hold a field trip
Restaurant Field Trip travels throughout Dallas, Texas on September 16.
September 15, 2014
10:06 EDTCONNConn's employees, customers shed light on customer complaint, NY Times says
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07:09 EDTGPIGroup 1 Automotive disposes of two dealerships in Long Island, New York
Group 1 Automotive announced the disposition of Hassel BMW MINI and Mercedes-Benz of Massapequa located on Long Island in New York. The company, in addition to the dealerships, also disposed of owned real estate associated with both dealerships. In total, the dealerships generated approximately $260M in trailing-twelve-month revenues. The disposals are consistent with Group 1's strategy of portfolio management and disciplined capital expenditure management.
September 11, 2014
09:11 EDTAZOAutoZone volatility low into Q3 and revenue outlook
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September 10, 2014
08:02 EDTTREXTrex launches Outdoor Lighting on
Trex (TREX) has officially entered the e-commerce marketplace with the launch of its high-performance Trex Outdoor Lighting collection on (AMZN). The first product line to be sold by Trex online, Trex Outdoor Lighting will join other Trex-branded products currently available on Amazon through Trex licensees, including Trex Outdoor Furniture, Trex RainEscape and Trex Pergola.
September 9, 2014
07:15 EDTABGCL King to hold a conference
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