Market Focus

Abercrombie & Fitch

Same-store sales at teen apparel retailer Abercrombie & Fitch fell for the tenth-straight quarter as it struggled to attract customers. The company did turn a profit in the second-quarter, but that was fueled mostly because of cost-cutting and store closures. Shares fell nearly five percent to $41.87.

Dollar General

Dollar General posted earnings that matched estimates, but its revenue and sales both missed. The discount retailer blamed a competitive environment and a cautious consumer. The disappointing results reaffirmed its interest in consolidating: the company told investors that it still wants to buy Family Dollar, even though its $9 billion offer was rejected last week. Shares were up slightly to $64.20.

Coty

Coty posted a big loss and a drop in revenues in its fiscal fourth quarter. The beauty products company, whose brands include Calvin Klein fragrances, missed on both the top and bottom lines. Coty says it’s targeting a return to revenue growth this fiscal year. But still, shares were down nearly 3.5 percent to $17.39.

Apple

The news Apple fans have been waiting for. The tech giant announced that it’s hosting a special event at its Cupertino headquarters on September 9th. It’s widely expected that the company will unveil its new iPhone 6. But, as usual, Apple was mysterious on the invitation writing only the words: “Wish we could say more.” Shares rose a fraction to $102.25, a new record.

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