DALLAS, Texas – Beacon Equity Research announces the release of Trade Alerts covering Apparel/Retail Stocks: Chico’s FAS Inc. (NYSE: CHS), Jones Apparel Group Inc. (NYSE: JNY), Abercrombie & Fitch Co. (NYSE: ANF), Gap Inc. (NYSE: GPS), Ross Stores Inc. (Nasdaq: ROST) and Nordstrom Inc. (NYSE: JWN).
In the Trade Alert, the author highlights Chico's FAS’ worse-than-expected same-store sales, as well as the company’s plans to cut jobs and close stores:
“Chico's FAS Inc. (CHS) shares climbed 5.50% to $4.03 Friday morning. Chico's FAS, together with its subsidiaries, operates as a specialty retailer of casual-to-dressy clothing, intimates, complementary accessories and other non-clothing gift items. It offers its products under Chico's, White House/Black Market (WH/BM), and Soma Intimates brand names. … The company recently said same-store sales fell 10.9% in January, a smaller drop compared to analysts' expectations. On average, analysts surveyed by Thomson Reuters, expected same-store sales to fall 12.1%. Its total sales for the four-week period ended January 31 fell 3% to $91.4 million from $94.1 million last year. … Chico's FAS said it cut about 180 jobs, or about 11% of headquarters staff. It also plans to close as many as 25 stores and book after-tax charges of $24.3 million to $29.3 million related to underperforming stores, impairment of goodwill and the job cuts.”
The Trade Alert author also featured Jones Apparel Group’s lowering of its 2008 earnings guidance and the reduction of the company's quarterly cash dividend to 5 cents per share:
“Jones Apparel Group Inc. (JNY) shares rose 5.32% to $3.96 Friday morning. Jones Apparel engages in the design, marketing and wholesale of apparel, footwear and accessories primarily in the United States and Canada. … The company recently released its preliminary adjusted and GAAP results for fiscal year 2008. From a previous guidance of 93 cents to 98 cents per share, Jones Apparel now expects to report 2008 full year adjusted earnings per share from continuing operations in a range of 85 cents to 88 cents, compared with 2007 adjusted earnings per share from continuing operations of $1.26. … Jones Apparel's board of directors also determined to reduce the company's quarterly cash dividend from 14 cents per share to 5 cents per share, effective with the quarterly dividend to be considered at the board meeting scheduled February 10, 2009.”
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