The company earned $14 million, or 9 cents a share for the quarter ended July 29, compared with $44 million, or 28 cents a share, a year ago. Adjusted for the impairment charge, the company earned 17 cents a share in the most recent quarter, matching estimates from analysts surveyed by Thomson First Call.
Revenue for the second quarter fell 0.1% to $1.30 billion, in line with analyst estimates. Comparable-store sales decreased 1.3%.
For the full year, the company expects earnings from continuing operation of $1.52 to $1.62 a share excluding a non-cash charge of 8 cents a share. Analysts were forecasting earnings of $1.58 a share.
During the second quarter, the company opened 38 new stores, remodeled/relocated 126 stores, and closed 21 stores.
"As we previously reported, our second-quarter earnings reflected lower-than-expected sales in both our domestic and international operations," the company said.
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