Consumer Biz Recap: True Religion Sinks, Aaron’s Rents has a Price
ValueVision Media (NASDAQ:VVTV) issued downside guidance for the fourth quarter and fiscal year 2012 revenues.The seller of jewelry, electronics, housewares and other items via home-shopping programs expects to see an 18% decline in fourth quarter revenue. The decline was on weakness in consumer electronics sales.
Aaron’s Rents (NYSE:AAN) Chairman Charles Loudermilk says he supports selling at the right price. The statement adds credence to recent reports that the company has potential buyers in the neighborhood.
Don’t Miss: Consumers Less Optimistic as Incomes Decline.
True Religion (NASDAQ:TRLG) has suffered at least three downgrades after posting fourth quarter earnings per share and revenue well below expectations and issuing downward 2012 guidance. Benchmark believes TRLG has a spending problem. In Benchmark’s opinion it is not a revenue problem. The apparel company has “intentionally held back revenues to protect the brand,” and Brean Murray says TRLG needs to “rebuild credibility.
Flowers Foods (NYSE:FLO) fourth quarter earnings fell 27%. Higher ingredient costs offset a sales improvement helped by last year’s acquisition of Tasty Baking. Results missed estimates, with earnings per share at $0.17 versus consensus $0.21. The maker of Nature’s Own, Sunbeam and Blue Bird breads and baked goods also issued a cautious 2012 outlook.
O’Reilly Automotive (NASDAQ:ORLY) drifts lower after being cut to Hold on valuation at Deutsche Bank. The improving new car sales and economic indicators may weigh against the company’s comp growth in 2013 and reduce upside potential over the near term.
Investing Insights: China: Green Light for General Motors.
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