Retail, luxury stocks also fall
— May 6, 2016
L Brands’ stock was slammed after the company reported its same-store sales fell in April.
— May 5, 2016
Bebe reported another quarter of losses and chief executive officer Manny Mashouf says he is looking for assets to sell.
April same store sales from L Brands, Cato, Buckle and Zumiez were lower than expected.
Sequential Brands reported revenue growth of 150 percent in its first quarter earnings.
Eric Beder, equity analyst at Wunderlich Securities Inc., reiterated a “buy” rating on the stock.
Net profit for the quarter ended March 31 rose 85 percent, while sales advanced 39 percent.
Retail, luxury stocks climb.
The wearable tech firm’s sales jumped 50 percent in the first quarter, but spending on research took its toll.
— May 4, 2016