Today - Tuesday, March 11, 2014
- Lions Gate (LGF) says digital sales of Hunger Games: Catching Fire were 40% higher than the first film in the series.
- DVD and Blu-Ray sales of Catching Fire were flat compared to what The Hunger Games hauled in its its 2012 release.
- The global box office haul for the movie now stands at $863M with some global markets not up to date on their reporting.
- The strong momentum bodes well for the next two films in the series slated for November 2014 and November 2015.
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- Weak reports from Urban Outfitters (URBN) and American Eagle Outfitters (AEO) could cast a pall over the entire teen apparel sector.
- Both retailers say they are very cautious on Q1 results after seeing weather clip traffic and the holiday promotional activity linger on.
- On watch: ARO, PSUN, PLCE, ANF, CHS, BKE, ZUMZ, EXPR.
- Zoe's Kitchen (ZOES) files for a IPO.
- The private equity-owned restaurant operator has a unique Mediterranean-inspired concept that stands apart from other fast-casual chains.
- Analysts also note its strong brand affinity with consumers that helped Noodles soar off its public debut.
- The 111-restaurant chain had revenues of $116M last year, up 46% from the previous year. Same-store sales were up 6.9% for the year.
- SEC Form S-1
- Tesla Motors (TSLA) says Governor Christie’s administration in New Jersey is pushing forward legislation that will curtail its ability to conduct sales in the state.
- Christie is a strong proponent of blocking the direct sales model of Tesla in favor of requiring the use of a third-party dealer.
- The EV automaker has had success in blocking similar legislation proposals in other states, but New Jersey could be a tough nut to crack.
- TSLA -0.8% premarket
- American Eagle Outfitters (AEO) reports comparable sales fell 7% Y/Y in Q4.
- Gross profit rate was down 930 bps to 31.9% as promotions were rampant during the period.
- The company warns Q1 has gotten off to a rough start due to weather. A high single-digit decline in comp sales is tipped off and the quarter is forecast to be a break-even period vs. expectations for EPS of $0.13.
- AEO -7.5% premarket
- Green Mountain Coffee Roasters (GMCR) has changed its name to Keurig Green Mountain effective immediately.
- The company says the identity switch is due in part to the strength of the Keurig brand name.
- The coffee seller has a new logo to go along with its new name, but will still trade under the symbol GMCR.
- GMCR +0.8% premarket
- Dick's Sporting Goods (DKS) matches the estimate of analysts with its Q4 report, but takes its guidance to below what analysts forecast.
- The company saw same store sales for Dick's rise increase 7.9% during the quarter, while comps at weather-stricken Golf Galaxy fell 11.7%.
- E-commerce penetration was 12.2% of total sales in Q4.
- Looking ahead, Dick's sees same-store sales growth of 3% to 4% in 2014. The outlook from the company also includes Q1 EPS of $0.51-$0.53 vs. $0.54 consensus and FY14 EPS of $3.03-$3.08 vs. $3.11 consensus.
- DKS -2.5% premarket
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- J.C. Penney (JCP) is on the move in early trading after Citigroup upgrades the stock to a Buy rating and raises its price target to $11.
- Citi thinks the company can return to positive comps as the focus turns to the home department and kids departments.
- What to watch: A return by J.C. Penney to seeing its sales mix of private brands return to historic norms (50% vs. 30% under Ron Johnson) could also do wonders for profitability.
- JCP +8.1% premarket
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- Greek yogurt juggernaut Chobani is looking to sell off a minority stake in a deal that could value the company at $2.5B, according to Reuters.
- The company is in talks with various companies and P-E firms.
- Plans for an IPO have been scrapped for now, according to sources.
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