Shares of theomnichannel teen retailer fell more than 10 percent in morning tradingtoday after the company reported a steep decline in fourth-quartersales, projected a large loss for the period and disclosed plans for aprivate placement to raise $44.1 million.
The New York-based firmsaid revenues for the 13 weeks ended this month were $35.4 million,34.2 percent below the 14-week 2012 quarter, with retail revenues off 33percent to $22 million and comparable-store sales down 26.9 percent.Direct segment sales fell 36 percent to $13.4 million. Gross margin isexpected to land between 7 and 8 percent, down from 29.6 percent in thefinal quarter of 2012.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)