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 punctuated July with a broad-based retreat that sent the S&P 500 lower by 2.0% with all ten sectors ending in the red. The benchmark index posted a monthly decline of 1.5%, while the Russell 2000 (-2.3%) underperformed to end the month lower by 6.1%.
To get a better feel for what led to today's retreat, we'd like to look back to Wednesday, when the market had ample reason to rally, but did not. Instead, it ended basically flat after a sloppy day of ... More
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