Reason for selloff is two-fold. First, and foremost, is not the 1.5% SS decline, but what amounts to an earnings warning - a loss instead of a 1c profit. Read the PR release.
Secondary, GDYS is a discount store. Look at the SS sales for other discount stores - up double digits.
I'm not sure if the amount of selloff is overdone or not. I've been burned by GDYS before and, in this market, hero's get their heads handed to them in a basket. I'll wait for more specific earnings guidance.
Reuters improperly rephrased the company press release to say they "warned" but the company did not warn... they confirmed a slight loss for the ongoing quarter (IF July is weak) while a 1 cent loss IS the consenus. They did NOT warm. See for yourself: