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Stock Market & Financial Investment News

News Breaks
June 19, 2014
11:49 EDTRH, WSM, BBBY, PIRPier 1 Imports sinks to 52-week low after cutting guidance
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a fresh 52-week low after the company's first quarter results missed analysts' consensus estimates and it lowered its fiscal 2015 earnings per share outlook. WHAT'S NEW: This morning, Pier 1 Imports reported Q1 EPS of 16c and revenue of $419.1M, trailing analysts' consensus estimates of 20c and $422.81M, respectively. Q1 comparable sales grew 6.3%. WHAT'S NOTABLE: The company lowered its FY15 EPS view to $1.14-$1.22 from $1.16-$1.24, compared to consensus of $1.21. Pier 1 backed its FY15 comparable sales growth view, which includes e-commerce, in the high-single digits. It sees FY15 EBITDA growth in the range of 9%-14%, compared to its previous guidance of 11%-17%. The updated guidance is due to a retail environment that remains highly promotional and is pressuring gross profit in the near-term, the company said. The company sees Pier1.com revenue to exceed $200M in FY15, and sees e-commerce sales of at least $400M in FY16, compared to previous expectations for e-Commerce sales to represent 10% of total sales by the end of FY16. On the company's earnings conference call, Pier 1 said it expects continued pressure on gross profits, mainly due to promotional activities, and does not see store sales increases from traffic. The company expects greater earning power in the second half of FY15, and will face easier comparisons in Q3 and Q4 versus a year ago, it added. PRICE ACTION: In late morning trading, Pier 1 Imports fell about 12% to $16.04 on nearly three times its average daily trading volume. Including today's pull back, the stock is down approximately 33% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Williams Sonoma (WSM), Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
News For PIR;WSM;RH;BBBY From The Last 14 Days
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April 9, 2015
10:32 EDTPIR, BBBYOptions with decreasing implied volatility
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10:00 EDTPIROn The Fly: Analyst Upgrade Summary
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09:27 EDTPIROn The Fly: Pre-market Movers
HIGHER: Pier 1 Imports (PIR), up 5.8% after earnings beat estimates, dividend boosted, and shares upgraded at Wedbush... Novogen (NVGN) rose after announcing that Australian studies revealed its experimental drug, Anisina, killed melanoma cells irrespective of their mutational status. Shares of small-cap Novogen rose 35% in pre-market trading following the company's report on the studies... TASER (TASR), up 3.8% after announcing UK order from London for 178 AXON body cameras... United Continental (UAL), up 2.8% after narrowing Q1 PRASM forecast... Walgreens Boots Alliance (WBA), up 2.4% after reporting Q2 results. LOWER: Zynga (ZNGA), down 12% after announcing last night that current CEO Don Mattrick will depart the company and the board and Mark Pincus, Zynga's founder and chairman, will return to the role of CEO... Alcoa (AA), down 2% after reporting Q1 financial results and giving 2015 guidance... Cliffs Natural (CLF), down 4.6% after BMO Capital cut it rating to the equivalent of sell and halved its price target on the stock to $4.
09:18 EDTBBBYBofA/Merrill retail analysts hold an analyst/industry conference call
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07:54 EDTPIRPier 1 Imports upgraded to Outperform from Neutral at Wedbush
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05:51 EDTBBBYWells Fargo remains cautious on Bed Bath & Beyond
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April 8, 2015
19:46 EDTBBBY, PIROn The Fly: After Hours Movers
UP AFTER EARNINGS: Apogee (APOG), up 6.4%... Pier 1 Imports (PIR), up 4.4%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 5.6% after being selected by DARPA to lead $45M Ebola prevention program. DOWN AFTER EARNINGS: Alcoa (AA), down 3.5%... Bed Bath & Beyond (BBBY), down 3.5%. ALSO LOWER: Zynga (ZNGA), down 10.3% after announcing CEO transition... Memorial Production (MEMP), down 2.9% after filing to sell 4.6M common units owned by MRD Holdco... Regulus (RGLS), down 2.2% after filing to sell 3.3M shares for Isis Pharmaceuticals.
16:19 EDTBBBYBed Bath & Beyond sees FY15 SSS up 2%-3%
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16:18 EDTBBBYBed Bath & Beyond sees Q1 EPS 90c-95c, consensus $1.01
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16:17 EDTPIRPier 1 Imports sees FY16 EPS 83c-87c, consensus 90c
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16:16 EDTBBBYBed Bath & Beyond reports Q4 EPS $1.80, consensus $1.80
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16:16 EDTPIRPier 1 Imports sees Q1 EPS 7c-8c, consensus 12c
16:15 EDTPIRPier 1 Imports sees Q1 SSS rising approximately 4%
“Although fiscal 2015 ending inventories are higher than originally planned, their complexion is healthy and not believed to pose a substantial markdown risk. We expect inventory levels to begin to moderate as we move through 2H16. We anticipate that comparable sales growth will be approximately 4% in Q1, reflecting strong customer response to our spring assortments. We will begin making strategic reductions to the size of our store base as e-Commerce sales penetration continues to increase. We anticipate these actions will help drive EBITDA dollar growth in FY16, and have a more pronounced effect in FY17. We plan to continue to return excess capital to shareholders through share repurchases and cash dividends. The company has initiated a plan to optimize its store portfolio as part of its strategy to drive growth through its omni-channel platform, reduce occupancy and payroll costs and improve efficiency. The company plans to close approximately 100 stores over the next three years, primarily through natural lease expirations and relocations. Looking ahead to fiscal 2017, we expect to achieve measured top line growth, inclusive of store closures, and grow e-Commerce sales penetration to approximately 20%," said the company.
16:15 EDTPIRPier 1 Imports rises after hours, levels to watch
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16:12 EDTPIRPier 1 Imports reports Q4 adjusted EPS 39c, consensus 36c
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16:09 EDTPIRPier 1 Imports raises quarterly dividend 17% to 7c per share
Pier 1 Imports announced that its board declared a 7c per share quarterly cash dividend. The dividend will be paid on May 6 to shareholders of record on April 22, and represents a 17% increase from the 6c cash dividend paid in the prior period.
15:24 EDTBBBY, PIRNotable companies reporting after market close
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14:45 EDTBBBYBed Bath & Beyond technical comments ahead of earnings
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April 7, 2015
10:19 EDTPIRHigh option volume stocks
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08:14 EDTBBBYBed Bath & Beyond April volatility elevated into Q4 and outlook
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