NEW YORK — Retail shares on Wednesday regained some of the ground lost earlier this week, as positive second-quarter earnings news from several specialty retailers helped pull up stock prices.
Shares in plus-size women’s apparel chain operator Charming Shoppes Inc. shot up 6.7 percent after the company reported a second-quarter net earnings increase of 46.3 percent to $39.6 million and increased its full-year earnings-per-share projection.
On a per-share basis, earnings in the three months ended July 30 totaled 30 cents, compared with EPS of 21 cents a year ago. Analysts had been expecting 27 cents. Total revenues were up 12.5 percent in the quarter at $688.4 million, and same-store sales rose 3 percent.
In the six months, earnings rose 30.6 percent to $69.6 million, or 53 cents, while revenues totaled $1.3 billion, an increase of 7.2 percent.
The Bensalem, Pa.-based company now expects full-year EPS of 73 to 75 cents, up from a prior guidance of 69 to 73 cents. Analysts are expecting 71 cents. Charming Shoppes shares ended Wednesday’s session up 72 cents at $11.53.
Thanks to strong full-priced selling and a successful repositioning strategy, United Retail Group Inc. reported a second-quarter profit of $4.1 million, or 31 cents a diluted share, from a loss of $1.6 million, or 12 cents, a year ago. Total sales rose 13.3 percent to $114.7 million, as same-store sales jumped 15 percent.
In the six months, the specialty retailer posted net earnings of $5.1 million, or 39 cents, which compared with a loss of $4.9 million, or 38 cents, a year ago. Revenues increased 11.3 percent to $221.2 million. Shares of Rochelle Park, N.J.-based United Retail, which operates the Avenue chain of plus-size stores, jumped 17.5 percent in Wednesday trading to $9.41.
Driven in part by store openings, extreme sports apparel retailer Zumiez Inc. said after the close of the market that second-quarter earnings surged 254.8 percent to $848,000, or 6 cents a share, ahead of the consensus estimate by a penny. That compared with earnings of $239,000, or 2 cents, in the same quarter last year.
Total revenues rose 28.7 percent to $39.4 million, while same-store sales increased 11.3 percent.
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In the six months, Everett, Wash.-based Zumiez earned $808,000, or 6 cents a diluted share, compared with a loss of $439,000, or 4 cents, a year ago. Revenues increased 31.3 percent to $72.8 million. Shares of Zumiez ended Wednesday trading down 2.5 percent at $30.