UPDATE: Rue21 Posts 19% Rise In FQ2 Profit, Lifts Full-Year Forecast

Rue21

reported a 19% rise in its fiscal second-quarter earnings and lifted its full-year earnings forecast. For the fiscal year, the company lifted its earnings forecast by $0.04 per share to $1.80 to $1.85 per share. For the current quarter, Rue21 projects earnings of $0.38 to $0.40 per share, versus analysts' estimates of $0.39 per share. Rue21's quarterly profit rose to $9.1 million, or $0.36 per share, from $7.7 million, or $0.31 per share, in the year-ago period. The company in May expected earnings of $0.32 to $0.34 per share. Its revenue climbed 17% to $202.1 million, versus analysts' estimates of $203 million. Its gross margin surged to 39.4% from 39.1%, while same-store sales rose 0.5%. Rue21 shares dropped 3.91% to $27.74 in after-hours trading.