The Gap Inc. (NYSE:GPS), shares fell in extended trading Thursday after the clothing retailer reported same-store sales dropped in June. Shares of the San Francisco, California-based company were down 3.4% at $39.60. The stock had lost 1.1% to $40.98 at the close of regular trading on Thursday, trimming this year’s gain to 4.9%.
Comparable sales for the five-week period ended July 5, 2014 were down 2%, compared to a 7% increase for the five-week period ended July 6, 2013. Net sales were $1.54 billion in June, up 1% from $1.53 billion year-over-year.
Shares of retailer, Joe’s Jeans Inc. (NASDAQ:JOEZ) were up more than 19% at $1.23 after-hours after the retailer reported Q2 net sales increased 56% to $48.2 million. Fully diluted earnings per share was $0.01 for Q2 2014 compared to $0.02 in same period a year ago. Retail store net sales increased 19%; operating income increased 55% to $3.3 million. Wall Street estimates were not immediately available. JOEZ trades in a 52-week range of $0.85 to $1.90.
Rent-A-Center Inc. (NASDAQ:RCII) expects Q2 net earnings per diluted share of $0.31 to $0.33 per share on total revenues of $773 million. This is below Cap IQ estimates for earnings of $0.48 per share on revenue of $785 million. For the same quarter of 2013, RCII reported net earnings of $0.76 per share on revenue of $761 million. The company will report final Q2 earnings on July 21. Shares of RCII are near $25.80 in after-hours action, down 11%. The stock closed at $29.06 in regular trading, moving in a 52-week range of $23.65 to $40.81.
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