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Stock Market & Financial Investment News

News Breaks
June 19, 2014
11:49 EDTPIR, WSM, RH, BBBYPier 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
Check below for free stories on PIR;WSM;RH;BBBY the last two weeks.
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August 22, 2014
09:00 EDTWSMWilliams-Sonoma September volatility elevated into Q2 and outlook
Williams-Sonoma September call option implied volatility is at 28, October is at 25, November is at 24; compared to its 26-week average of 25 according to Track Data, suggesting larger price movement into the expected release of Q2 results on August 27.
August 12, 2014
08:03 EDTWSMGoldman's Retail selections for Q2
Goldman is most above Q2 consensus for Advance Auto Parts (AAP), Best Buy (BBY) and Williams-Sonoma (WSM), sees best risk/reward in Ulta Salon (ULTA) and Sportsman's Warehouse (SPWH), and low visibility in Dick's Sporting (DKS) and Wal-Mart (WMT).
August 11, 2014
07:05 EDTBBBY, PIRDeutsche Bank discusses LBO chatter in Retail space
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