Yahoo Finance is tracking Abercrombie & Fitch, Sears, Tiffany & Co and GameStop in intraday trading on Thursday.
Hollister sales boosts Abercrombie & Fitch’s quarterly results
Abercrombie & Fitch (ANF) posted a smaller-than-expected loss in the second quarter, thanks to strength from its Hollister brand. The teen retailer said same-store sales fell 1%, better than the expected drop of 2.1%. Revenue topped analysts’ forecasts at $779.3 million. The adjusted loss of 16 cents a share was better than forecasts for a loss of 33 cents. One highlight in Abercrombie’s report was sales at its Hollister brand, which rose 5% during the quarter. Abercrombie & Fitch shares are up about 14.6% in intraday trading as of 1 p.m. ET.
Sears announces plans to close 28 more Kmart stores
The department store recorded a smaller-than-expected loss in the second quarter while its revenue beat Wall Street expectations. Sears (SHLD) recorded an adjusted loss of $1.16 a share on revenue of $4.37 billion. Analysts were expecting a loss of $2.48 a share and sales of $4.21 billion. Even though the department store topped expectations, it’s still struggling to lure shoppers through its doors. Sears announced it plans to close 28 more Kmart stores this year, which is in addition to the 150 Sears and Kmart stores it’s closing by the end of the current quarter. Sears shares have fallen 39% over the past year.
Tiffany records another quarter of same-store sales decline
The luxury jeweler reported revenue of $959.7 million, boosted by growth in its fashion and design jewelry, and its profit topped expectations at 92 cents a share. But it wasn’t all good news for Tiffany & Co (TIF). Its same-store sales fell for the seventh quarter in a row, down 2% worldwide, which is a bigger drop than the 1% decline analysts were expecting. Tiffany shares have jumped nearly 14% since the start of the year.
What to watch in GameStop earnings
GameStop (GME) is scheduled to report quarterly earnings after the bell Thursday. Analysts are expecting earnings of 16 cents a share on revenue of $1.64 billion. Investors will be closely watching the quarterly results as the company looks to diversify it business. Shares of GameStop have tumbled about 31% over the past year.
For more on Thursday’s big stock movers and breaking earnings after the bell, check out The Final Round, starting at 3:55 p.m. ET, right here on Yahoo Finance.