Rue21, Inc. (RUE) Misses Q1 EPS by 2c; Trims Outlook
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Rue21, Inc. (NASDAQ: RUE) reported Q1 EPS of $0.44, $0.02 worse than the analyst estimate of $0.46. Revenue for the quarter came in at $224.4 million versus the consensus estimate of $229.83 million.
Rue21, Inc. sees FY2013 EPS of $1.98-2.03, versus the consensus of $2.02. Rue21, Inc. sees FY2013 revenue of $2.00-2.05 million. Comparable store sales decreased 4.6%.
Bob Fisch, rue21's President and CEO, stated: "Despite a challenging environment which impacted our first quarter financial results, we are proud to have achieved another 41 successful new store openings, gross margin expansion of 120 basis points, and an increase in gross profit. We also feel positive about the continued progress we made this past quarter on our long term goals, which include opening profitable new stores in underserved markets and moving up the launch of our e-commerce site to the fourth quarter. We are confident that going forward we will be able to continue to produce the consistent productivity and profitability gains that our team is so proud to have delivered over the past 10 years."
For earnings history and earnings-related data on Rue21, Inc. (RUE) click here.
Rue21, Inc. sees FY2013 EPS of $1.98-2.03, versus the consensus of $2.02. Rue21, Inc. sees FY2013 revenue of $2.00-2.05 million. Comparable store sales decreased 4.6%.
Bob Fisch, rue21's President and CEO, stated: "Despite a challenging environment which impacted our first quarter financial results, we are proud to have achieved another 41 successful new store openings, gross margin expansion of 120 basis points, and an increase in gross profit. We also feel positive about the continued progress we made this past quarter on our long term goals, which include opening profitable new stores in underserved markets and moving up the launch of our e-commerce site to the fourth quarter. We are confident that going forward we will be able to continue to produce the consistent productivity and profitability gains that our team is so proud to have delivered over the past 10 years."
For earnings history and earnings-related data on Rue21, Inc. (RUE) click here.
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