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] The stock market finished an upbeat week on a mixed note. The S&P 500 added just over a point, holding its weekly gain at 1.0% while the Nasdaq lost 0.4%.
The major averages began the day on an upbeat note, but relinquished their opening gains during the first 90 minutes of action. The early sentiment was boosted by a better-than-expected nonfarm payrolls report for February (175K versus Briefing.com consensus 163K), but a closer look into the report suggested that ... More
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