Getty Images Ann Taylor's parent Ascena could close hundreds of stores, analysts say. Ann Taylor parent Ascena Retail Group Inc. sees no hope for its same-store sales in the near-term, and investors are responding by shedding the company's stock in droves. For the year, the company expects adjusted EPS of 10 cents to 15 cents, and same-store sales down 6% to down 7%. Among the reasons for the warning, Ascena Chief Executive David Jaffe highlighted traffic headwinds and a highly promotional landscape. Ascena can close about 500 stores according to their analysts, including 180 Justice stores, 170 Lane Bryants and 120 Loft locations.
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Gap facebook/" target="_blank">shares had closed Thursday at $23.19, having climbed slightly more than 3 percent since the beginning of the year. Shares of Gap climbed Thursday after the retailer reported a quarterly profit that topped Wall Street expectations. Access a Zacks stock report on GPS at https://www.zacks.com/ap/GPS—————Keywords: Gap, Earnings Report, Priority Earnings Its shares rose 2.4 percent to $23.75 in after-hours trading Thursday. Gap left its earnings prediction for the year unchanged at $1.95 to $2.05 per share.
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Parcels growth drives Royal Mail's profit beat, shares rise
Royal Mail also needs to convince unions to back its plan to close a pension scheme. After years of underinvestment, Royal Mail was privatised in 2013 and has since reduced layers of management, improved vehicle utilisation rates, upgraded technology and cut its property bill. But competition is getting tougher in the parcels market because of new entrants such as Amazon (AMZN.O), while letter volumes continue to fall. "That said, Royal Mail has come through very well." "Royal Mail has posted a solid set of results against a challenging backdrop...A decent rise in full-year dividend, combined with share price falls over the last year, means the stock is now yielding over 5 percent," he said.Gap facebook/" target="_blank">shares had closed Thursday at $23.19, having climbed slightly more than 3 percent since the beginning of the year. Shares of Gap climbed Thursday after the retailer reported a quarterly profit that topped Wall Street expectations. Access a Zacks stock report on GPS at https://www.zacks.com/ap/GPS—————Keywords: Gap, Earnings Report, Priority Earnings Its shares rose 2.4 percent to $23.75 in after-hours trading Thursday. Gap left its earnings prediction for the year unchanged at $1.95 to $2.05 per share.
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