New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 11, 2014
13:36 EDTTLYS, ANF, APP, AEO, GPSGap falls after experiencing sharp decline in March SSS
Shares of apparel retailer Gap (GPS) are tumbling after the company reported a sharp decline in its March same-store sales yesterday. WHAT'S NEW: Gap reported that its same-store-sales in March declined 6% versus a 1% decrease last year. Broken down by division, same-store-sales for Gap Global were down 7% versus flat last year, Banana Republic Global declined 4% compared to a 1% gain last year and Old Navy Global fell 7% versus a 2% decline last year. Gap also reaffirmed its FY14 earnings per share view of $2.90-$2.95, which is slightly below analysts' consensus of $2.96. Last month, the retailer said that it expected March to be negatively impacted due to Easter occurring in April this year versus March last year. ANALYST REACTION: Today, Janney Capital downgraded Gap to Neutral from Buy and said the retailer's inventory continues to grow faster than sales and that promotions continue to infer a highly competitive backdrop. The firm lowered its fair value estimate for shares to $41 from $50. Janney Capital analysts Adrienne Tennant and Gabriella Carbone said that they expect the retail environment for Gap to still be challenging in the first half of FY14 and feel that SG&A control, margin-driven incentives, and ongoing buyback activity are imperative to help fuel earnings per share. Based on the weak patterns so far in the first quarter, the analysts said that they are lowering their estimates for the quarter to $2.89 from $2.95, consensus $2.96. They are also lowering their FY15 earnings per share view to $3.18 from $3.30. To reflect the spring break/Easter shift from March into April, the analysts are projecting a 1% decline for April comp. OTHERS TO WATCH: Gap's competitors include American Eagle Outfitters (AEO), American Apparel (APP), Abercrombie & Fitch (ANF) and Tillyís (TLYS). PRICE ACTION: During afternoon trading, shares of Gap are down 79c, or 2.01%, to $38.50.
News For GPS;AEO;APP;ANF;TLYS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 25, 2014
10:10 EDTGPS, ANFJanney to hold a field trip
Janney Montgomery Holiday Mall Tour is being held at Tysons Corner, Virginia on November 25.
07:12 EDTANFAbercrombie & Fitch volatility elevated into Q3 and outlook
Subscribe for More Information
November 24, 2014
05:07 EDTGPSGap, Zalando announce Pan-European partnership
Subscribe for More Information
November 21, 2014
16:20 EDTGPSOn The Fly: Closing Wrap
Stocks on Wall Street gained after China's central bank cut interest rates for the first time in over two years to bolster its economy. Additionally, the head of Europe's central bank said he was determined to do what is needed to ensure the area's economy does not once again fall into crisis. ECONOMIC EVENTS: In the U.S., the Kansas City Fed manufacturing index for November had a reading of 7, compared to the consensus forecast for a reading of 6. In Asia, the People's Bank of China unexpectedly cut interest rates, slashing the one-year lending rate by 40 basis points and the one-year deposit rate by 25 basis points. The move, which was the central bank's first interest rate cut since 2012, surprised markets around the globe. In Europe, European Central Bank President Mario Draghi said indicators have been declining to levels he would deem "excessively low" and that he is determined to use more aggressive measures, such as large scale asset purchases, as needed. COMPANY NEWS: Microsoft (MSFT) was the worst performer on the Dow after Jefferies initiated coverage of the stock with an Underperform rating. Microsoft's stock has rallied 30% in the last year, but the company is still facing the same fundamental problems as in previous years, Jefferies analyst John DiFucci wrote. He set a $40 price target on the shares, which slipped 74c, or 1.5%, to $47.97. MAJOR MOVERS: Among the notable gainers was Ross Stores (ROST), which advanced $6.06, or 7.28%, to $89.27 after the company reported stronger than expected Q3 results. Also higher were shares of Caterpillar (CAT), which rose $4.36, or 4.27%, to $106.45 amid the quantitative easing actions taken abroad and after research firm Stifel initiated coverage of the stock with a Buy rating. Among the noteworthy losers was GameStop (GME), which sunk $5.68, or 13.05%, to $37.86 after the video game retailer's third quarter results, as well as its fourth quarter and full year profit forecasts, trailed consensus estimates. Also lower were shares of The Gap (GPS), which dropped $1.68, or 4.19%, to $38.46 after the owner of Banana Republic, Old Navy and its namesake clothing brand lowered its fiscal year profit outlook. INDEXES: The Dow rose 91.06, or 0.5%, to 17,810.06, the Nasdaq gained 11.10, or 0.24%, to 4,712.97, and the S&P 500 added 10.75, or 0.52%, to 2,063.50.
16:13 EDTAPPAmerican Apparel names Chelsea Grayson as General Counsel
The Board of Directors of American Apparel announced the appointment of Chelsea Grayson as Executive Vice President, General Counsel, and Secretary of the company, effective as of December 15. Tobias S. Keller will continue to serve as Interim General Counsel until Graysonís employment commences, at which time he has agreed to resign from such position. Chelsea Grayson has more than 15 years of experience in private practice as a corporate attorney with the law firms of Jones Day and Loeb & Loeb LLP, where she was a partner in the corporate groups of both firms.
13:20 EDTGPSOn The Fly: Midday Wrap
Subscribe for More Information
08:48 EDTANFAbercrombie & Fitch enters into franchise agreement with Grupo AXO in Mexico
Abercrombie & Fitch announced that it has entered into a franchise agreement with Grupo AXO to establish a retail store presence in Mexico. The franchise arrangement will encompass both the Abercrombie & Fitch and Hollister brands. The first Hollister store is set to open in late spring 2015 and the first Abercrombie & Fitch store is expected to open in late summer 2015. The company anticipates a continuing rollout that will include stores in cities like Mexico City, Guadalajara, Cancun and Playa Del Carmen.
06:24 EDTGPSGap says Jeff Kirwan to become global president for Gap brand in December
Gap yesterday announced the promotion of two current executives, with 35 years of combined company experience between them, to become global brand presidents for Gap and Banana Republic. The moves were orchestrated by Art Peck as he prepares to take on the role of CEO of Gap Inc. in February, with the full support of current chairman and CEO Glenn Murphy. Jeff Kirwan, who has reported to Murphy for the past three years as president of greater China for Gap Inc., will become Global President for Gap brand in December following a brief transition period. Kirwan succeeds Stephen Sunnucks, who will leave the company on December 19, after steering the growth of its namesake brand to almost 50 countries over the past decade. Andi Owen, 49, who currently leads the Gap Outlet division, will become Global President for Banana Republic, effective January 5. She succeeds Jack Calhoun, who will depart from the company on February 1 after working with Owen during the transition.
November 20, 2014
18:21 EDTGPSOn The Fly: After Hours Movers
Subscribe for More Information
16:06 EDTGPSGap down 3% after lowering FY14 EPS guidance
16:05 EDTGPSGap now sees FY14 operating margin to be about 12.5%
Subscribe for More Information
16:03 EDTGPSGap lowers FY14 EPS view to $2.73-$2.78, consensus $2.82
Subscribe for More Information
16:01 EDTGPSGap reports Q3 EPS with benefit 80c, consensus 79c
Subscribe for More Information
15:51 EDTGPSGap technical remarks before results
Subscribe for More Information
15:28 EDTGPSNotable companies reporting after market close
Subscribe for More Information
November 18, 2014
11:40 EDTTLYS, ANF, AEOUrban Outfitters sinks to 52-week low after Q3 profit misses consensus
Subscribe for More Information
November 14, 2014
13:39 EDTAPPBigger Capital calls for American Apparel's board to be reconstituted
Bigger Capital Fund and the Bigger Family, collectively owning more than 2M shares of American Apparel announced that they have delivered a letter to American Apparel's board. In the letter, Bigger Capital said, We write to you to express our serious and growing concerns with the company and provide the basis for our conviction that the board must be immediately reconstituted to replace David Danzinger and Allan Mayer with direct representatives of American Apparel's minority shareholders... We renew our call for the resignations of Messrs. Danzinger and Mayer for a number of reasons... we are becoming increasingly concerned that the new Board, led by Co-Chairmen Danzinger and Mayer, is not as committed to protect the interests of all shareholders as we had hoped. For example, this Board never bothered to respond to our July 17th letter or address our concerns in any form. At a time when the Company is suffering ever widening losses, is embroiled in a much publicized investigation of its former CEO, is still absorbing changes in its senior executive team, and the stock is taking a beating, the Board has a heightened responsibility to soothe shareholder concerns and assure us that all is being done to protect our investment. Such disregard of minority shareholders especially at this critical time is inexcusable... As things currently stand, American Apparel is continuing to sustain massive losses and erosion of shareholder value persists. The Company has massively underperformed peers on a profitability basis for years... Our expectation is that the Board will immediately engage with us to work constructively towards a solution along the lines laid out in this letter."
10:00 EDTANFOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
06:23 EDTAEOAmerican Eagle implied volatility of 59 at upper end of index mean range
Subscribe for More Information
05:35 EDTANFAbercrombie & Fitch downgraded to Neutral from Outperform at Credit Suisse
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use