Home furnishings retailer Pier 1 Imports (NYSE:PIR) reported second quarter earnings today that rose to $16.6 million, or $0.14 per share, compared to $14.4 million, or $0.12 per share, in last yearís second quarter. Revenue rose 9.6%, to $339.6 million, on same-store sales growth of 10.8%. Per-share results met analyst estimates, and revenue was just ahead of expectations.
Ascena Retail Group (NASDAQ:ASNA) said late yesterday its fiscal fourth quarter profits fell to $28.2 million, o $0.35 per share, from $42 million, or $0.52 per share, in the same quarter last year. Adjusted earnings of $0.48 per share came up short of analyst forecasts. Revenue was up 2%, to $725.8 million, and would have been up 11% adjusted for the extra week in last yearís fourth quarter. Same-store sales rose 7% over all. Same-store sales rose 4% at the companyís Dressbarn stores, 3% at Maurices and 14% at Justice. Ascena is looking for earnings per share of $2.55 to $2.65 in the 2012 fiscal year, below analyst forecasts at the low end.
Also late yesterday, auto parts retailer and service provider Pep Boys (PBY) said independent director Robert Hotz was appointed chairman of the board of directors. Hotz has been a Pep Boys board member since 2005, is a head of investment banking at Houlihan Lokey Howard & Zukin, and also serves as a director of Universal Health Services (NYSE:UHS). Former chairman Max Lukens resigned for personal reasons.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.