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Stock Market & Financial Investment News

News Breaks
December 11, 2012
05:55 EDTSSI, SSI, LFVN, LFVN, DXLG, DXLG, FARM, FARM, LCUT, LCUT, CBK, CBK, SUMR, SUMR, KIRK, KIRK, CLUB, CLUB, KONA, KONA, CROX, CROX, IRBT, IRBTWedbush to host a conference
California Dreamin' Consumer: Management Access Conference is being held in New York on December 11-12.
News For IRBT;CROX;KONA;CLUB;KIRK;SUMR;CBK;LCUT;FARM;DXLG;LFVN;SSI From The Last 14 Days
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September 26, 2014
16:53 EDTSSIPoint72 Asset reports 5.1% passive stake in Stage Stores
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September 25, 2014
07:40 EDTIRBTiRobot pullback a buying opportunity, says Benchmark Co.
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September 24, 2014
06:36 EDTFARMFarmer Bros. initiated with a Buy at B. Riley
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September 23, 2014
11:38 EDTCBKAscena Retail plummets to 52-week low after results, guidance trail consensus
Shares of Ascena Retail (ASNA), a national specialty retailer of apparel for women and teen girls, are falling after the company's fourth quarter results and fiscal 2015 profit outlook trailed analysts' consensus estimates. WHAT'S NEW: Last night, Ascena Retail reported Q4 adjusted EPS of 13c and revenue of $1.18B, far below analysts' consensus estimates of 18c and $1.21B, respectively. Same store sales for the period declined 2%. Looking ahead, Ascena Retail forecast FY15 adjusted EPS of 90c-$1.00 excluding any acquisition-related, integration and restructuring costs that may be incurred during the fiscal year, significantly trailing the consensus of $1.25. The company sees EPS down compared to last year in the first half, but expects growth in the second half. The company sees flat to modest positive total comparable store growth for the year, with Fall flat to down low-single digits, and Spring up low-single digits. EBITA growth for the year is seen in the mid-to-high single digits, with the EBITDA rate flat to up 20 basis points, with 80-100 basis points of improvement in gross margin rate mostly offset by operating expense rate de-leverage. Ascena also sees a net new store increase of 30-40 units, capital expenditures of $350M-$375M and an effective tax rate of 37% vs. 32% in fiscal year 2014. The company sees FY15 double digit growth in depreciation, with projected expenses between $210M-$215M. The company's guidance is based on an ongoing challenging retail environment. WHAT'S NOTABLE: Ascena President and Chief Executive Officer David Jaffe commented that Q4 EPS was "in line" with expectations, despite mixed results across its portfolio and soft traffic patterns. Jaffe said the company is maintaining a conservative outlook for the Fall season, as the company has "yet to see sustained evidence of market improvement." Ascena also said it plans to increasingly focus on adjusted EBITDA as an indicator of underlying financial performance because it normalizes for major changes in non-cash depreciation and tax rates. ANALYST REACTION: This morning, research firm SunTrust lowered its price target on Ascena Retail to $17 from $21 after the company reported results that were weak across the board. The firm believes that the company is making appropriate changes and seems well-positioned for the future, while its brand integrity is intact across divisions. SunTrust reiterated a Buy rating on shares. Another firm, Oppenheimer, said Ascena's retail strategies should help stem margin pressure. The firm added that the profitability of the company's new brands is rising significantly, while its guidance looks conservative. Oppenheimer cut its price target on the shares to $19 from $22, but kept an Outperform rating on the stock. PRICE ACTION: In late morning trading, Ascena Retail fell $2.69, or 16.24%, to $13.85 on nearly four times its average daily trading volume. Earlier in the session, the stock notched a fresh 52-week low of $13.72. Including today's pull-back, the shares have lost approximately 22% over the past 12 months. OTHERS TO WATCH: Other specialty retailers catering to women include Christopher & Banks (CBK), Chico's FAS (CHS), and Ann Inc. (ANN).
10:51 EDTKIRKKirkland's management to meet with Piper Jaffray
Meeting to be held in Boston on September 30 hosted by Piper Jaffray.
09:46 EDTIRBTiRobot has a conference call hosted by JPMorgan
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07:44 EDTKONAWedbush to hold a conference
CA Dreamin' Consumer Conference: The NY Edition to be held in New York on September 23.
06:20 EDTIRBTiRobot management to meet with Needham
Meeting to be held in Boston on September 29 hosted by Needham.
September 18, 2014
07:20 EDTSSIStage Stores performance poised to rebound in 2H14, says SunTrust
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September 17, 2014
07:39 EDTIRBTMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
September 16, 2014
07:29 EDTSUMRSummer Infant management to meet with Piper Jaffray
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