** charts before earnings **
** charts after earnings **
- Reports Q1 (Apr) earnings of $0.31 per share, $0.06 worse than the Capital IQ Consensus of $0.37; revenues fell 3.7% year/year to $3.97 bln vs the $4.13 bln Capital IQ Consensus.
- Comps -3.9% vs slightly positive estimates; gross margin -139 bps YoY to 35.5%.
- "First quarter sales were challenging. Despite the sales environment, we were able to manage our gross margin and inventory levels consistent with our expectations as we took the markdowns necessary to clear excess inventory. We managed our expenses effectively throughout the quarter as every area contributed to our savings versus our plan."
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