Forbes.com: Latest Headlines - Mar 09, 2010J. Crew Group, Inc. (JCG)
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Brian Sozzi
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Wall Street StrategiesThat boosted earnings per share to 61 cents, swinging back from a year earlier loss of 22 cents.
J. Crew Group ( JCG , news , people ) beat analysts earnings estimate of 46 cents per share, but shares continued to dip after hours following a 0.9% fall to $46.99 before the closing bell. The International Council of Shopping Center's weekly retail snapshot on reported that sales at chain stores increased steadily with a 2.9% gain week over week. The increase suggests that consumers are finally headed to the stores to snap up spring merchandise, and J. Crew isn't the first retailer to climb out from a poor finish to 2008 to report strong numbers for the end of 2009.
"It's quite depictive of pent up demand being unleashed, and much in line with the demand trends expressed by the management teams" in quarterly earnings reports, says Brian Sozzi, an analyst with Wall Street Strategies.
Share:
That boosted earnings per share to 61 cents, swinging back from a year earlier loss of 22 cents. <span class="company">J. Crew Group</span> ( JCG , news , people ) beat analysts earnings estimate of 46 cents per share, but shares continued to dip after hours following a 0.9% fall to $46.99 before the closing bell. The International Council of Shopping Center's weekly retail snapshot on reported that sales at chain stores increased steadily with a 2.9% gain week over week. The increase suggests that consumers are finally headed to the stores to snap up spring merchandise, and J. Crew isn't the first retailer to climb out from a poor finish to 2008 to report strong numbers for the end of 2009.<span class="sent"> "It's quite depictive of pent up demand being unleashed, and much in line with the demand trends expressed by the management teams" in quarterly earnings reports, says <span class="analyst">Brian Sozzi</span>, an analyst with Wall Street Strategies.</span>
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