New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:50 EDTM, LULU, VFC, GPSlululemon plummets to 52-week low after outlook cut, CFO retires
Shares of athletic apparel retailer lululemon (LULU) are sinking after the company's second quarter view missed analysts' consensus estimates and it lowered its fiscal 2014 outlook. The company's CFO, John Currie, also announced his retirement. WHAT'S NEW: This morning, lululemon reported Q1 adjusted earnings per share of 34c and revenue of $384.6M, topping estimates of 32c and $381.24M, respectively. Q1 SSS on a combined basis increased 1% on a constant dollar basis. Comparable corporate-store sales for Q1 decreased by 4% on a constant dollar basis and direct to consumer revenue increased 25% on a constant dollar basis. For Q2, the company forecast EPS of 28c-30c and revenue of $375M-$380M, falling short of consensus of 36c and $387.19M, respectively. The company lowered its FY14 normalized EPS view to $1.71-$1.76 from $1.80-$1.90, compared to consensus of $1.89. It also narrowed its FY14 revenue guidance to $1.77B-$1.8B from $1.77B-$1.82B, versus consensus of $1.8B. The company's CFO, John Currie, also announced his intention to retire by the end of the fiscal year. WHAT'S NOTABLE: On its earnings conference call, the company said Q2 sales have started off behind plan and that comps have been "more impacted than originally anticipated." ANALYST REACTION: Following the company's quarterly report, the stock was downgraded to Market Perform from Outperform at William Blair and was downgraded to Hold from Buy at Stifel. OTHERS TO WATCH: lululemon has been facing increased competition from rival yoga-wear retailers and department stores such as Gap's (GPS) Athleta brand, VF Corp's (VFC) lucy, Macy's (M), and others who are selling athletic-wear at lower prices and across more locations, according to a Reuters report. PRICE ACTION: In late morning trading, lululemon fell about 15% to $37.87 on nearly six times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $37.00. Including today's pull back, the stock is down approximately 41% over the past 12 months.
News For LULU;GPS;VFC;M From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
February 8, 2016
16:19 EDTGPSGap narrows FY15 EPS view to $2.41-$2.42, consensus $2.36
Subscribe for More Information
16:17 EDTGPSGap reports January SSS down 8%
Gap Inc.'s comparable sales for January 2016 were down 8 percent versus negative 3 percent last year. Comparable sales by global brand for January 2016 were as follows: Gap Global: negative 6 percent versus negative 9 percent last year; Banana Republic Global: negative 17 percent versus positive 2 percent last year Old Navy Global: negative 6 percent versus positive 3 percent last year.
09:01 EDTMMacy's partners with AwesomenessTV to debut In Awe Of You lifestyle brand
Subscribe for More Information
February 5, 2016
12:26 EDTVFCOptions with increasing implied volatility
Subscribe for More Information
06:23 EDTM20 companies make alliance to keep down healthcare costs, WSJ says
Subscribe for More Information
February 4, 2016
10:28 EDTMKohl's slumps after cutting forecast on lower than planned sales, margins
Shares of Kohl's (KSS) are plunging after the department store retailer cut its earnings per share guidance for fiscal year 2015 based on lower than planned sales for the quarter and "significantly" lower gross margins. WHAT'S NEW: Kohl's said this morning that comparable store sales for the fourth quarter increased 0.4%, with total quarterly sales rising 0.8%. The company said that despite a "very strong" holiday selling season, sales were "very volatile and less than planned" in the quarter. Additionally, Kohl's said the holiday season results were offset by a "very slow start" to Q4 in November as well as a weaker than expected January due to soft demand for cold-weather goods that led to lower store traffic. Looking ahead, Kohl's cut its FY15 EPS view to $3.95-$4.00, excluding losses from debt repayment, against analysts' consensus estimate of $4.30. Kohl's previously expected FY15 EPS to be at the low end of its $4.40-$4.60 range. Kohl's said it lowered its guidance as a result of lower than expected quarterly sales and "significantly lower than planned" gross margin. Kohl's is expected to report Q4 results on February 25. WHAT'S NOTABLE: Kohl's is considering whether to hire an investment bank to advise the company on alternatives including going private or a break up, The Wall Street Journal reported on January 11, citing a source. Kohl's executives are said to be open to a strategic review, the source said. ALSO NOTABLE: Retailer Ralph Lauren (RL) this morning said that while international net revenue grew 6% in constant currency in its third quarter, North America revenue declined 4%, due in part to warmer temperatures for the fall and holiday season. ANALYST OPINIONS: Buckingham yesterday upgraded Kohl's to Buy from Neutral, as the firm expected Kohl's SSS to rise by a low single digit percentage level in Q4. Analysts at Stifel said on January 11 that Kohl's could be worth as much as $95 in a takeover. PRICE ACTION: Kohl's is down over 14% to $43.72 in morning trading. OTHERS TO WATCH: Ralph Lauren is down over 17.5% to trade near $95 per share. Department store peers Macy's (M) and J.C. Penney (JCP) are down 3% and 2%, respectively, this morning.
February 3, 2016
09:56 EDTLULUlululemon February weekly calls active on renewed takeover chatter
Subscribe for More Information
09:51 EDTLULURumor: lululemon moves up on renewed takeover chatter
Subscribe for More Information
February 1, 2016
16:17 EDTMPVH, G-III Apparel announce license agreement for Tommy Hilfiger womenswear
Subscribe for More Information
14:05 EDTMMacy's announces senior executive changes amid 'evolving' consumer preferences
Subscribe for More Information
January 29, 2016
17:25 EDTLULUlululemon files to sell 9.8M shares of common stock
Subscribe for More Information
15:00 EDTMMacy's puts Etsy shop in Herald Square store, Fortune reports
Subscribe for More Information
08:27 EDTMMacy's volatility flat into trimming guidance
Subscribe for More Information
08:05 EDTMMacy's cuts Q4 EPS view to $1.85-$1.90 ex-charges from $2.18-$2.23
Subscribe for More Information
08:05 EDTMMacy's cuts FY15 EPS view to $3.54-$3.59 ex-items from $3.85-$3.90
Subscribe for More Information
08:03 EDTMMacy's revises Q4, FY15 earnings guidance
Subscribe for More Information
08:03 EDTMMacy's completes Brooklyn store redevelopment transaction
Subscribe for More Information
January 26, 2016
09:09 EDTLULUlululemon moves up in pre-market
Subscribe for More Information
January 25, 2016
17:14 EDTLULULone Pine Capital reports 5.0% passive stake in lululemon
07:02 EDTLULUlululemon can take prices higher, says Jefferies
Subscribe for More Information
1 | 2 >>

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