2 Teen Retailers Gain On Prelims; Gap Drops
Two apparel retailers gained sharply in Monday's extended session on better-than-expected preliminary fourth-quarter results.
Gap Inc (NYSE: GPS) also beat fourth quarter expectations, but posted disappointing sales for January. Gap traded down recently by $0.30 to $40.80.
Aeropostale estimated its fourth quarter loss at between -$0.06 to -$0.01 a share, on sales of $594.5 million.
Wall Street expects a loss of -$0.27 a share, on sales of $577.7 million when Aeropostale posts full results on March 12.
Urban Outfitters said fourth quarter sales grew 12 percent to $1.01 billion; Wall Street expected sales of $998.1 million.
Same-store sales grew 4 percent at Urban Outfitters' namesake chain, by 18 percent at Free People, and 6 at the Anthropologie Group.
Urban Outfitters is slated to post full results on March 9.
What About Gap?
Gap, lastly, estimated its fourth quarter adjusted earnings will be between $0.73 and $0.74 a share, while sales grew 3 percent to $4.71 billion.
Wall Street analysts expected $0.68 a share on sales of $4.71 billion. Gap also said January same-store sales fell 3 percent from a year earlier and total sales declined more than 1 percent to $888 million.
Gap is slated to post full results February 26.
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