NEW YORK (TheStreet) -- Retail stocks are mixed following second-quarter earnings reports.
One of the biggest decliners is Citi Trends (CTRN) after it reported a surprise second-quarter loss.
Shares of the apparel retailer are tumbling 11.5% to $24.05 in afternoon trading. During the quarter, Citi Trends lost 4 cents a share, compared with break-even results in the year-ago period. Analysts were forecasting a profit of 7 cents a share.
Looking ahead, Citi Trends cut its full-year forecast to $1.60 to $1.70 a share, from prior guidance of $1.75 to $1.80. It also lowered its same-store sales outlook to be flat with last year to up 2%. It previously expected a gain between 4% and 5%.
American Apparel (APP), meanwhile, is plunging 19.3% to 83 cents, a day after the company warned it may not have enough liquidity to make it through the remainder of the year.
The retailer said it may not be able to repay a loan due in September and is currently in talks with creditors. It also delayed reporting its second-quarter earnings, but said it expects a loss between $5 million and $7 million on sales of $132 million to $134 million.
Netflix (NFLX) stock is falling following a downgrade to underperform by Morgan Keegan analyst.
Analyst Justin Patterson is particularly concerned about content costs related to Netflix's new deal with EPIX, which he estimates could cost Netflix about $1.10 a subscriber per month. Growing competition from Hulu, Comcast and Coinstar (CSTR), among others, is also raising a red flag.
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