rue21 up 8% Strong Earnings and Guidance

rue21

is trading higher on the session following its Q1 earnings announcement yesterday. The company reported an EPS of $0.46 vs $0.43 estimates and revenues of $205.6 million vs $204.10 million estimates. rue21 also raised its FY 2012 EPS guidance. Bob Fisch, rue21's President and CEO, stated: "We were pleased to deliver strong results to our shareholders in the first quarter of fiscal 2012, and are looking forward to continuing our momentum into the second quarter and the remainder of the year. We believe rue is well positioned to capitalize on the current color and fashion trends in the industry. In addition to seeing comparable store sales increases on top of strong performance last year, our new stores continue to provide consistent and predictable sales and profit growth." rue21 is currently trading at $29.12, a gain of $2.12 or 7.85%.