Ann Taylor, Aeropostale see sales gains
Shares of both companies jump. Red Robin Gourmet Burgers trims guidance, hitting shares.
Ann Taylor (ANN) shares were up 8.4% to $21.93 this afternoon after reporting earnings of 38 cents a share in the fiscal first quarter, up from a loss of 4 cents a year ago. Revenue of $476.2 million was up 11.6% over a year ago.
The apparel retailer sees second-quarter sales approaching $500 million, up 6.3% from a year ago. It also boosted its full-year revenue guidance $1.95 billion to $1.975 billion from prior guidance of $1.85 billion.
There is a downside to the cheer. In the fiscal first quarter of 2009, sales were $591.7 million.
Aeropostale (ARO) shares were up 4.4% to $28.50 after climbing as much as 7.2%, the most intraday since May 10.
The teen clothing retailer reported late Thursday fiscal-first-quarter profit (excluding some items) of 48 cents a share, up 55% from a year ago and better than the consensus estimate of 46 cents. But it was up.
Revenue was up 13.6% from a year to $463.6 million.
The company is forecasting earnings of 45 cents to 48 cents per share in the second quarter. The consensus is 47 cents.
But there was some bad news: Red Robin Gourmet Burgers (RRGB) plunged 14.1% to $20.25 -- after falling as much as 22%, the most since Jan. 15.
The restaurant operator lowered its forecast for the year, saying revenue will be $880 million to $882 million.
Analysts had expected $883 million in revenue. Earnings will be no more than $1.30 a share, less than the average analyst estimate of $1.33.
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[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.
The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More
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