J. Crew (JCG) Shares Up 18% in After-Hours on Solid Q1 Earnings, Strong Outlook
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J. Crew (NYSE: JCG) shares have rocketed in today's after-hours trading session following strong Q1 results and Q2 guidance that came in above where the Street had been expecting. The stock closed today's intraday session up just 1.4%, but shares of J. Crew have now added nearly 18% to this gain. The stock most recently traded at $24.00, up $3.54 from today's close.
The preppy retailer saw quarterly earnings of $0.32, beating Wall Street's estimates by 21 cents, on sales of $345.8 million. During the quarter, same store sales fell 5%. Gross margin for the quarter fell 470 basis points from 46.9% to 42.2% of sales.
Looking ahead, J. Crew sees Q2 EPS in the range of $0.08-$0.12, which compares to the Street's estimate looking for a loss of $0.02.
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