Category: Companies / August 22, 2013 10:30 AM EDT
Abercrombie & Fitch Co. (NYSE: ANF) reported second quarter net income fell to $11.4 million, or 14 cents per share, from $17.1 million, or 20 cents per share, a year ago. The teen retailer issued earnings of 16 cents per share, below Wall Street estimates for 28 cents, according to analysts polled by Reuters.
Revenue in the second quarter fell 1 percent to $945.7 million, compared with revenue of $996.2 million analysts expected.
On Thursday, shares of Abercrombie & Fitch Co. plunged 18.23 percent to $38.27 in morning trade.
Sears Holdings Corp. (NASDAQ: SHLD) reported a second quarter loss of $194 million, or $1.83 a share, compared with a loss of $132 million, or $1.25 a share, in the year-ago period. The company booked an adjusted loss of $1.46 a share. Revenue fell 6 percent to $8.87 billion, down from $9.47 billion a year earlier.
Shares of Sears Holdings Corp. dropped 8.13 percent to $39.75.
On the earnings calendar for Thursday: Pandora Media Inc. (NYSE:P), Marvell Technology Group Ltd. (NASDAQ:MRVL), Aeropostale Inc. (NYSE:ARO), The Gap Inc. (NYSE:GPS), GameStop Corp. (NYSE:GME), Ross Stores Inc. (NASDAQ:ROST), The Buckle Inc. (NYSE:BKE).
Wall Street edged up on Thursday, after U.S. stocks plunged in the previous session, as investors weighed better-than-expected manufacturing data in China and the Eurozone. The Dow fell under 15,000 on Wednesday, after investors and traders were unclear on when the Federal Reserve planned to taper its $85 billion-a-month bond-buying program. Minutes released by the Fed revealed FOMC members were split on when to reduce the central bank’s asset purchasing program.
The Dow Jones industrial average rose 43.77 points, or 0.29 percent, at 14,941.32. The S&P 500 Index was up 10.42 points, or 0.63 percent, at 1,653.19. The Nasdaq Composite Index gained 31.54 points, or 0.88 percent, at 3,631.72.