Ames Department Stores (AMES: news, msgs) shares rose 14 percent
Thursday morning after the company posted a narrower-than-expected
loss for the second quarter. The retailer reported a net loss of $22.1
million, or 75 cents a share, compared with a loss of $21.5 million, or 78
cents a share, registered in the year-ago period. Analysts polled by First
Call had expected a loss of 78 cents a share. Sales rose to $872 million
compared with $860 million a year earlier. Same-store sales fell 2.5
percent to $633 million from $649 million. The company expects earnings
for all of fiscal 2000 to total between $1.35 and $1.50 a share. The
consensus estimate on Wall Street, as compiled by First Call, stands at
$1.40 a share. Shares closed up 5/8 to 5 1/4.
Ames Department Stores (AMES: news, msgs) shares rose 14 percent
Thursday morning after the company posted a narrower-than-expected
loss for the second quarter. The retailer reported a net loss of $22.1
million, or 75 cents a share, compared with a loss of $21.5 million, or 78
cents a share, registered in the year-ago period. Analysts polled by First
Call had expected a loss of 78 cents a share. Sales rose to $872 million
compared with $860 million a year earlier. Same-store sales fell 2.5
percent to $633 million from $649 million. The company expects earnings
for all of fiscal 2000 to total between $1.35 and $1.50 a share. The
consensus estimate on Wall Street, as compiled by First Call, stands at
$1.40 a share. Shares closed up 5/8 to 5 1/4. |
