Fred's reports Q2 in-line with lowered guidance; guides Q3 EPS below consensus, revs in-line; guides FY16 EPS below consensus
- Reports Q2 (Jul) loss of $0.13 per share, in-line with the Capital IQ Consensus of ($0.13); revenues rose 11.2% year/year to $546.1 mln vs the $563.63 mln consensus.
- Warned on Aug 6: Lowered EPS to ($0.15-0.10) from $0.02-0.07 vs. $0.03 consensus; preannounced rev $545 mln vs. $564 mln consensus.
- Co issues guidance for Q3, sees EPS of $0.08-0.12 vs. $0.15 Capital IQ Consensus Estimate; sees Q3 revs of +12-14% to ~$533-542.8 mln vs. $540.83 mln Capital IQ Consensus; comps +0-2%.
- Co issues downside guidance for FY16, sees EPS of $0.10-0.18 vs. $0.26 Capital IQ Consensus Estimate.