Shares of Oxford Industries Inc. fell Tuesday evening after the apparel company lowered its financial forecasts for the year, OXM were down 3.6% to $22.05. The company, which makes private- and branded-label products, forecast second-quarter earnings of 31 cents a share to 36 cents a share on revenue of $225 million to $235 million. Analysts surveyed by FactSet Research currently expect earnings of 48 cents a share on sales of $234.6 million. For the year, Oxford said it expects earnings of $1.90 to $2.05 a share on revenue of roughly $1 billion. It previously forecast earnings of $2.35 a share on revenue of $1.01 billion to $1.06 billion. "Unfortunately, as our guidance revision reflects, the external environment has become increasingly challenging," J. Hicks Lanier, chief executive of Oxford Industries, said in a statement. http://www.marketwatch.com/news/story/after-hours-oxford-industries-falls/story.aspx?guid=%7B0FEE52AE-3E0A-4F04-B67F-FA7C3FA63A47%7D&dist=hplatest
My posting is for my own entertainment, do your own DD before pushing your buy/call button
Pep Boys posts Q1 profit, beats Street view Pep Boys-Manny, Moe & Jack (PBY.N: Quote, Profile, Research), the automotive parts and service chain, posted a first-quarter profit that beat market expectations of a loss on higher service center business revenue and a gain on the disposal of assets, sending its shares up as much as 9 percent.
The company, facing a weak economy, has been selling its non-core merchandise since the third quarter of last year to focus on core automotive merchandise and has been investing in its service business.
"Profit improved in our service business, (but) was weaker in our retail business as we expected due to our merchandise transition," the company said in a conference call on Tuesday.
Pep Boys operates in the automotive aftermarket for the maintenance of older vehicles in the do-it-yourself, do-it-for-me arenas, and buy-for-resale and replacement tires segments.
These various customers typically repair and maintain vehicles themselves, or seek service labor, car part installations and merchandise.
But high gas prices and the credit crunch have put a strain on the automotive aftermarket industry with continued maintenance deferrals by vehicle owners.
"While we still believe that the company's plans are valid and that the company could continue to improve its operations, the environment remains difficult and we believe caution on the stock is still warranted," analyst Scot Ciccarelli of RBC Capital said in a research note. http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSBNG17642920080610
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