US: Tween Brands cuts Q4 forecast
Specialty retailer Tween Brands has trimmed its fourth-quarter earnings forecast because of weaker-than-predicted sales over the Christmas period.
Tween Brands previously expected profit of 95 cents to US$1 per share for the quarterly period but now expects it to total 85-88 cents a share.
It also expects same-store sales for the quarter to be lower than previously forecast, with a predicted increase of 3% to 4% compared to the mid-single digits anticipated earlier.
The downgrade sent stock down 12%.
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