Organizational Realignments, Monthly Sales, Financial Results, Special Meetings, Dividends, and Repurchase Programs - Analyst Notes on ANN, L Brands, Genesco, Jones Group, and The Children's Place
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NEW YORK, March 19, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding ANN Inc. (NYSE: ANN), L Brands, Inc. (NYSE: LB), Genesco Inc. (NYSE: GCO), The Jones Group Inc. (NYSE: JNY), and The Children's Place Retail Stores, Inc. (NASDAQ: PLCE). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.AnalystsReview.com/register
ANN Inc. Analyst Notes
On March 14, 2014, ANN Inc. (Ann) announced a strategic realignment of its organization in order to support an integrated stores/ecommerce structure and position the Company for accelerated growth and efficiency. The Company has named Gary Muto to the position of President, ANN Brands,and will be primarily focused on design, merchandising and marketing for all channels of the Ann Taylor and LOFT brands. The Company also announced that it has streamlined its operations, eliminating approximately 100 positions from its corporate workforce. The Company expects to record a pre-tax restructuring charge of approximately $15 million in connection with the realignment, the vast majority of which is expected to be incurred in Q1 FY 2014. The full analyst notes on ANN Inc. are available to download free of charge at:
http://www.AnalystsReview.com/03192014/ANN/report.pdf
L Brands, Inc. Analyst Notes
On March 6, 2014, L Brands, Inc. (L Brands) reported its SalesResults for the month of February 2014 (four week period ended March 1, 2014). Comparable store sales grew 2% YoY as compared to a 3% YoYgrowth registered in February 2013. Further, net sales grew 5.2% YoY to $750 million in February 2014. The Company opened one LBrand store and closed down five during the month,operating a total of 2,919 stores as of March 1, 2014. The full analyst notes on L Brands, Inc. are available to download free of charge at:
http://www.AnalystsReview.com/03192014/LB/report.pdf
Genesco Inc. Analyst Notes
On March 13, 2014, Genesco Inc. (Genesco) reported its Q4 FY2014 and full-year FY 2014 financial results (period ended February 1, 2014). For the quarter, net sales totaled $792.5 million compared to $796.7 million in Q4 FY2013. Net earnings were $42.2 million compared to $38.8 million in Q4 FY2013, and net earnings per share were $1.81 compared to $1.66 in Q4 FY2013. For FY 2014, net sales grew marginally by 0.8% YoY to $2.6 billion. Net earnings were $92.7 million compared to $112.44 million in FY 2013, while earnings per share were $3.98 compared to $4.76 in FY 2013. Robert J. Dennis, Chairman, President and CEO of Genesco said, "Our Fiscal 2014 performance reflects a challenging selling environment throughout the year, including the fourth quarter. While our overall results were lower than we planned, we are confident the fundamentals of our business remain intact." The full analyst notes on Genesco Inc. are available to download free of charge at:
http://www.AnalystsReview.com/03192014/GCO/report.pdf
The Jones Group Inc. Analyst Notes
On March 3, 2014, The Jones Group Inc. (The Jones Group) announced that it has scheduled a special meeting of The Jones Group shareholders on April 7, 2014 at 2:00 p.m. ET. The meeting will be held at the offices of Cravath, Swaine& Moore LLP New York, New York. The Company said that the goal of the meeting is to consider and vote upon the previously announced agreement entered into with Sycamore Partners on December 19, 2013, pursuant to which, subject to the satisfaction of various conditions set forth therein, affiliates of Sycamore Partners will acquire The Jones Group for $15.00 per share in cash. If the merger agreement is adopted at the special meeting, the Company expects the transaction to be completed in Q2 2014. The full analyst notes on The Jones Group Inc. are available to download free of charge at:
http://www.AnalystsReview.com/03192014/JNY/report.pdf
Children's Place Retail Stores, Inc. Analyst Notes
On March 6, 2014, The Children's Place Retail Stores, Inc. (The Children's Place) announced that its Board of Directors has authorized and declared a quarterly, cash dividend of $0.1325 per share. The dividend is payable on April 17, 2014 for shareholders of record at the close of business on March 27, 2014. The quarterly dividend is the first for The Children's Place since becoming a public company in 1997. Further, the Company announced that it has approved a $100 million share repurchase authorization as part of its strategy to return excess capital to shareholders. In conjunction with the expanded capital return program, the Company amended its existing credit facility to increase its line of credit to $200 million from $150 million and to permit dividend payments on the same basis as stock repurchases. The full analyst notes on Children's Place Retail Stores, Inc. are available to download free of charge at:
http://www.AnalystsReview.com/03192014/PLCE/report.pdf
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