Ascena Retail stock plunged 20 percent in extended trading after the company posted weak guidance for the upcoming financial quarter. That news overshadowed earnings and revenue that met Wall Street expectations. In a statement Chief Executive David Jaffe called the most recent quarter “disappointing,” due to “fashion missteps that we cannot afford in today’s environment,” hinting that the Ann Taylor parent company is combating the same pressures as are dragging stock of other big name retailers.
Shares of Coupa Software slid about 3 percent, despite posting better-than-expected quarterly results. The company posted an adjusted loss of 5 cents per share on $47.3 million in revenue. Analysts had expected the company to post an adjusted loss of 11 cents a share on $45.1 million in revenue, according to Thomson Reuters consensus estimates.
Stock of Under Armour wavered in the extended session after the company announced it had appointed David Bergman as chief financial officer. Bergman has been serving as acting CFO since early 2017. Under Armour also announced Chief Digital Officer Michael Lee will leave the company in Jan. 2018.
Advance Auto Parts shares briefly fell 4 percent in the extended session after Vice President Robert Cushing dumped 163 shares of the company. The stock had gained 4 percent in the normal session.
Source CNBC International
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