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Stock Market & Financial Investment News

News Breaks
January 10, 2013
16:11 EDTPSUNPacific Sunwear reports Q4 SSS through Jan. 6 up 1% on continuing ops basis
News For PSUN From The Last 14 Days
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May 28, 2015
18:44 EDTPSUNOn The Fly: After Hours Movers
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16:04 EDTPSUNPacific Sunwear sees Q2 EPS (5c)-1c, consensus (1c)
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16:02 EDTPSUNPacific Sunwear reports Q1 EPS (12c), consensus (11c)
Reports Q1 revenue $166.5M, consensus $170.05M. Comparable store sales for Q1 decreased 2%. The Company ended the first quarter of fiscal 2015 with 605 stores versus 618 stores a year ago.
15:25 EDTPSUNNotable companies reporting after market close
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May 18, 2015
20:16 EDTPSUNUrban Outfitters down over 16% after disappointing Q1 results
Urban Oufitters (URBN) is down sharply after reporting first quarter earnings per share and revenue that missed analyst estimates. WHAT'S NEW: Urban Oufitters reported Q1 EPS of 25c on revenue of $739.01M, below consensus expectations of 30c and $758.25M, respectively. Urban Outfitters also reported Q1 comparable retail segment net sales up 4%, with Q1 retail segment net sales increasing 17% at Free People, 5% at Urban Outfitters, and 1% at the Anthropologie Group. Wholesale segment net sales rose 18%. WHAT'S NOTABLE: On its Q1 earnings conference call, Urban Outfitters announced that Urban Outfitters Group CEO Ted Marlow, who oversaw the direction of the namesake brand, would retire at the end of August. While Urban Outfitters did not provide guidance, Urban Outfitters Anthropologie Group CEO David McCreight commented on the Anthropologie brand, "We're expecting we could see Q2 shaping up like Q1 in terms of low single-digit comps. We could also see being in the low-mid-single digit comps. It's hard to tell at this point." ANALYST REACTION: Two analyst firms lowered their respective price targets on Urban Outfitters following the company's earnings report. Sterne Agee, which rates Urban Outfitters a Neutral, lowered its 12-month price target to $34 from $46, noting the company has had trouble getting both its Urban Outfitters and Anthropologie brands to perform at the same time. Cantor, which maintained its Buy rating, lowered its price target to $53 from $54, saying that Anthropologie sales disappointed, but noting that a "later catalog release appears to us to have pushed some sales at Anthropologie into May." PRICE ACTION: Urban Outfitters fell 16.4% to just over $34 in after-hours trading. PEERS: Other publicly traded companies in the space include Abercrombie & Fitch (ANF), American Eagle (AEO), Five Below (FIVE), Pacific Sunwear (PSUN), and Zumiez (ZUMZ).

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