Retail Earnings Losers Roundup: DKS, CMRG, SSI Thursday, November 19, 1:22 PM ET
Dick's Sporting Goods (NYSE:DKS) posted a third quarter profit of 16 cents per share, beating prior guidance for a range of 4 to 7 cents. And consolidated same store sales increased 1.9%, versus guidance for a 4 to 6 percent decline. But Dicks shares fell more than 8 and a half percent Thursday, as the company's earnings guidance for the fourth quarter of between 41 and 46 cents per share fell short of analyst estimates for 57 cents.
Casual Male Retail Group (NASDAQ:CMRG) reported a third quarter loss of 3 cents per share. That compares to an 8 cent loss in the same quarter last year. Sales fell just over 11% year over year, but the company reduced SG&A expenses by 17%. Looking ahead, the company gave a cautious outlook for the rest of the year, and narrowed its sales guidance toward the lower end of the prior range. Shares were trading off more than 10%.
And shares of Stage Stores (NYSE:SSI) fell nearly 9% after the company posted a 19 cent loss for the third quarter, even though the result beat analyst expectations for a 22 cent loss. The company opened 16 new stores during the quarter, bringing the total for the year to 27 new stores. Net sales were down about 2.7% year over year. Looking ahead, the company raised its fourth quarter guidance range by 2 cents on the low end and a penny on the high end.
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