Market Focus


Tiffany reported another bright and shiny earnings report. The jewelry retailer’s profit surged in the second quarter, thanks to strong sales in the Americas and Asia-Pacific regions. The company also raised its earnings outlook for the year, noting improving sales and expanding profit margins. The stock rose almost one percent to $101.75.


Express reported lower income and sales in its second quarter, but still the results came in better than analysts estimates. The clothing retailer also upped its full-year forecast and said profit margins are improving, despite a difficult retail environment. Shares jumped nearly 13 percent to $16.45.

Chico’s FAS

Chico was the misfit of the retailers’ earnings reports. Its profits tumbled more than 30 percent as price cuts to unload seasonal merchandise squeezed its margins. Sales were slightly better because of increased promotional pricing, but it was not enough to help the company meet revenue estimates. The stock fell 4.5 percent to $15.29.


Michael’s crafted a strong earnings report. In the art supplies retailer’s first quarterly results since going public, the company beat Wall Street’s estimates. The chain also gave a 2014 full-year forecast that’s above consensus. The stock popped, up nine percent to $16.54.


Guess posted weaker than expected earnings. The apparel retailer also offered third-quarter and full-year guidance below the Street forecasts. Shares tumbled initially after hours. During the regular trading session, the stock was down slightly to $25.64.

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