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Stock Market & Financial Investment News

News Breaks
May 29, 2014
11:37 EDTTLYS, PSUN, 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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July 31, 2014
09:14 EDTPSUNPacific Sunwear sees Q2 EPS in line with estimates of (3c), consensus (4c)
The company also stated that it expects its non-GAAP loss from continuing operations per diluted share for Q2 of FY14 to be generally in line with analysts' consensus estimates of (3c), which compares favorably to the company's previously issued non-GAAP guidance of (8c)-(2c).
July 30, 2014
10:00 EDTPSUNOn The Fly: Analyst Downgrade Summary
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05:40 EDTPSUNPacific Sunwear downgraded to Neutral from Buy at B. Riley
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