NEW YORK (
) -- Retail stocks are mixed following second-quarter earnings reports.
One of the biggest decliners is
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.
Avoid Retail Stocks
var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 589148155001; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);
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%.
, meanwhile, is plunging 19.3% to 83 cents, a day after
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.
stock is falling following a
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
, among others, is also raising a red flag.
Shares of Netflix are off 3.7% to $128.08 in afternoon trading.
is taking a hit after it slashed its full-year outlook. The discounter now expects to earn between $2.40 and $2.50 a share, from its guidance of $2.58 to $2.68 a share. Analysts are calling for a profit of $2.67 a share.
In its second quarter BJ's earned $35.8 million, or 67 cents a share, from $35.1 million, or 64 cents, last year. Revenue rose 9% to $2.79 billion from $2.57 billion last year.
Shares of BJ's are sinking 4.1% to $41.54 in afternoon trading.
Elsewhere in the discount space,
is rising 2.4% to $51.88, following posting second-quarter earnings that fell in-line with expectations, despite disappointing sales.
The discounter has been able to control costs, which helped it earn $679 million, or 92 cents a share, compared with $594 million, or 79 cents, in the year-ago period.
Target's total revenue, which includes credit card revenue, increased 3.1% to $15.32 billion. It's retail sales jumped 3.8% to $15.13 billion, while same-store sales inched up 1.7%, below the company's forecast for an increase of 2% to 4%.
is pulling up stocks in the women's apparel sector, after it
Shares of Chico's are advancing 7.6% to $9.05, leading up
, which is jumping 7.3% to $16.08,
, which is growing 8.1% to $10.54, and
New York & Co.
, which is rising 4.3% to $2.18.
-- Reported by Jeanine Poggi in New York.
Follow TheStreet.com on
and become a fan on