Tween Brands posts Q2 sales, Justice to open 100 to 105 new stores
22 Aug '07
2 min read
The 2006 quarter included the benefit from an extra week and a lower effective tax rate as a result of favorable tax settlements during the period.
As a result of Tween Brands' lower second quarter earnings and revised outlook on the third and fourth quarters, the company expects full-year earnings per diluted share of $1.80 to $1.95 compared to its previous guidance of $2.10 to $2.25. The company reported earnings per diluted share of $1.95 for fiscal 2006, which comprised 53 weeks.
Commenting on the revised earnings guidance, Mr. Rayden said, “While we are projecting positive comparable store sales for the third quarter at both of our brands, we remain cautious regarding the current trend in retail traffic and the continuing uncertainties in the U.S. economy.”
marketing@alchempro.com
