Updated from 12:56 p.m. EDT
were among the
losers Tuesday, falling 7.5% after the company warned that financial results would fail to meet expectations for the second straight quarter.
The women's clothing retailer now expects first-quarter earnings of 7 cents to 11 cents a share. In October, the company said it would earn between 24 cents and 28 cents a share. Analysts surveyed by Thomson First Call had been expecting earnings of 25 cents a share on sales of $166.2 million. Charlotte Russe also announced that same-store sales during the first quarter would decline by mid- to high-single digits.
Previously, it said it would post an increase in the low-single digits. "Sales during the first two months of the quarter have been disappointing, and particularly in November," the company said. Shares tumbled in September when the company warned that fourth-quarter results would be hampered by weak same-store sales and disappointing back-to-school sales. Shares traded down 82 cents to $10.09.
climbed 29.1% after the footwear maker agreed to buy privately held
EJ Footwear Group
for almost $88 million in cash and $10 million in stock. The acquisition is expected to contribute substantially to Rocky's 2005 earnings and sales results. The company now expects 2005 earnings of $2.35 to $2.45 a share on sales of $280 million to $285 million. Analysts had been expecting earnings of $1.93 a share on sales of $142.9 million. The deal between the two companies is expected to close in early January. Shares traded up $5.95 to $26.38.
fell 7.2% after the automotive retailer posted second-quarter earnings that fell below Wall Street expectations. The company posted earnings of $4.4 million, or 55 cents a share, on sales of $50.5 million. Analysts were expecting earnings of 56 cents a share on sales of $50 million. A year ago, the company earned $3.8 million, or 48 cents a share, on sales of $43.3 million. Looking ahead, America's Car-Mart forecast 2005 earnings of $2.29 to $2.35 a share, in line with analysts' expectations. Shares traded down $2.60 to $33.50.
fell 7.1% after the company said it would sell $100 million in convertible senior notes due 2024. The women's specialty retailer plans to use the proceeds from the offering to finance part of a previously announced acquisition, which is still pending. If the acquisition is not completed, Dress Barn said, it may use the proceeds from the offering for general corporate purposes. Shares traded down $1.19 to $15.65.
fell 6.3% after the drugstore chain posted November sales that were weaker than expected and warned that full-year results would fall below expectations if sales trends continued to be weak. Same-store sales fell 1.3% in November, while total sales fell 1.6% to $1.56 billion. Rite Aid said that its results were hurt by the United Auto Workers mandatory prescription program and by tough year-over-year sales comparisons.
If the most recent sales trend continues, the company warned, earnings and sales for 2005 would fall below the earnings and sales guidance it issued in September. At that time, Rite Aid forecast earnings of 16 cents to 22 cents a share on sales of $16.9 billion to $17 billion. Analysts are expecting earnings of 18 cents a share on sales of $16.99 billion. Shares traded down 23 cents to $3.41.
volume leaders included
, down 9 cents to $3.78;
, down 1 cent to $27.20;
, up 6 cents to $3.73;
, up $3.60 to $72.35; and
Advanced Micro Devices
, down $1.35 to $23.50.
Nasdaq volume leaders included
Sirius Satellite Radio
, up 92 cents to $9.01;
, down 30 cents to $27.03;
, down 16 cents to $19.66;
, up 20 cents to $2.68;
, down 53 cents to $23.48; and
, down 13 cents to $5.31.