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May 29, 2014
11:37 EDTPSUN, TLYS, ZUMZTilly's declines after revenue, profit outlook miss estimates
Shares of West Coast apparel, footwear and accessory retailer Tilly's (TLYS) are falling after the company reported a decline in its first quarter same-store sales and lower than expected earnings guidance for the new quarter. WHAT'S NEW: Tilly's reported Q1 earnings per share of 2c, which matched analysts' consensus prediction. The company's revenue for the quarter amounted to $111.1M, which missed expectations of $113.22M. Same-store-sale for the retailer in the quarter were down 6.8%. Tilly's also noted that it expects second quarter earnings per share of 3c-7c, while analysts had guided to 13c per share. Tilly's said that it foresees second quarter same-store sales to be down in the high single digits. WHAT'S NOTABLE: During the company's Q1 earnings conference call, Tilly's said that it is starting the second quarter with inventory "well positioned" at down 4.5% on a per square foot basis. The company said that it is planning inventory per square foot to be down slightly by the end of Q2 compared to the same period last year. The retailer is on track to open at least 18 new stores during the rest of the year and it is on track with its outlet plans as well, it noted. Tilly's said that during the first quarter, the harsh winter weather that other retailers experienced was not a "meaningful influencer" for them, explaining that it has a large concentration of stores that were not adversely affected by the weather. OTHERS TO WATCH: Competitors to Tilly's include Pacific Sunwear (PSUN) and Zumiez (ZUMZ). PRICE ACTION: During late-morning trading, shares of Tilly's fell $1.76 or 16.6%, to $8.82. Over the last year, the stock has dropped about 47%.
News For TLYS;PSUN;ZUMZ From The Last 14 Days
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May 29, 2015
10:01 EDTPSUNOn The Fly: Analyst Downgrade Summary
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09:03 EDTTLYSTilly's should be bought on any weakness, says Roth Capital
After Tilly's reported in-line Q1 results but provided weaker than expected Q2 guidance, Roth Capital says the company is showing limited signs of structural or fundamental weakness.The firm is upbeat on the company's outlook partly because of its store refreshes, meaningful store growth outlook, and fast-growing e-commerce presence. Roth keeps a $15 price target and Buy rating on the shares.
06:19 EDTPSUNPacific Sunwear downgraded to Neutral from Buy at Mizuho
Mizuho downgraded Pacific Sunwear to Neutral with a $1.50 price target citing the Q1 miss, merchandising miss steps, softness in key products, excess inventory, and difficult comps.
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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13:19 EDTTLYSOn The Fly: Top stock stories at midday
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07:16 EDTTLYSTilly's weakness a buying opportunity, says Brean Capital
Brean Capital would use any weakness in Tilly's following Q1 results as a buying opportunity. The firm noted its earnings beat as well as a slowdown in sales in heritage markets coupled with higher than expected inventories. Brean Capital believes the sales slowdown was weather related and it foresees margin upside. Brean Capital reiterated its Buy rating and $18 price target on Tilly's shares.
May 27, 2015
19:14 EDTTLYSOn The Fly: After Hours Movers
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16:04 EDTTLYSTilly's sees Q2 EPS 1c-5c, consensus 8c
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16:03 EDTTLYSTilly's reports Q1 EPS 5c, consensus 4c
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15:30 EDTTLYSNotable companies reporting after market close
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May 26, 2015
07:44 EDTTLYSTilly's positioned for significant operating margin leverage, says Brean Capital
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May 19, 2015
16:03 EDTTLYSTilly's appoints Michael Henry as CFO
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May 18, 2015
20:16 EDTPSUN, ZUMZUrban 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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