U.S. stock market futures fell sharply lower Thursday morning, indicating Wall Street is set to extend Wednesday’s declines, worries over euro area issues and further weakness in the currency weighing on the downside.
The children’s clothing retailer Gymboree Corp. on Wednesday reported first-quarter net income climbed by a third as revenue increased. Gymboree reported first-quarter profit of $29.2 million, or 99 cents per share, comapred with $21.8 million, or 74 cents per share and revenue rose 9.5 percent to $252.8 million from $230.9 million in the same quarter a year earlier. The Gymboree Corp. (NASDAQ:GYMB, $44.40, -$0.3, -0.67%) fell 3.40 percent to $42.89 on Thursday morning pre-market trading session, even on Wednesday, shares of Gymboree declined 0.67 percent, closed on $44.40.
Mall- and web-based specialty retailer Hot Topic, Inc. (HOTT), on Wednesday reported first-quarter loss as revenue fell at its flagship stores and Internet music site. Hot Topic reported first-quarter loss of $1.8 million, or 4 cents a share, compared with $1.2 million, or 3 cents per share and revenue fell 7.1 percent to $162.6 million from $175.1 million in the same quarter a year earlier. Hot Topic, Inc. (NASDAQ:HOTT, $6.53, -$0.13, -1.95%) dropped 8.58 percent to $5.97 on Thursday morning pre-market trading session, even on Wednesday, shares of Hot Topic were down 1.95 percent, closed on $6.53.
Limited Brands Inc (LTD), the operator of the Victoria’s Secret and Bath & Body Works chains, on Wednesday reported its first-quarter net income soared, helped by a one-time pretax gain. Limited Brands reported first-quarter net income $112.5 million, or 34 cents per share, from $2.6 million, or 1 cent per share and evenue rose 11.6 percent to $1.93 billion from $1.73 billion in the same quarter a year earlier. Limited Brands, Inc. (NYSE:LTD, $24.49, +$0.02, 0.08%) fell 3.02 percent to $23.75 on Thursday morning pre-market trading session, while on Wednesday, shares of Limited Brands rose 0.08 percent, closed on $24.49.
Broadline retailer Sears Holdings Corp. on Thursday reported that its first-quarter net income fell 38 percent on thinner profit margins at its Sears chain. Sears Holdings reported first-quarter income fell to $16 million, or 14 cents per share, down from $26 million, or 21 cents per share and revenue fell 0.1 percent to $10.05 billion from $10.06 billion in the same quarter a year earlier. Sears Holdings Corp (NASDAQ:SHLD, $99.56, -$2.45, -2.4%) dropped 2.72 percent to $96.85 on Thursday morning pre-market trading session, even on Wednesday, shares of Sears Holdings were down 2.40 percent, closed on $99.56.
GT Solar International, Inc. (SOLR), a provider of equipment, technology and services to the solar power industry, on Wednesday reported fourth-quarter profit as margins almost doubled and sales increased. GT Solar International reported fourth-quarter net income of $33.3 million, or 23 cents per share, compared to $11.8 million, or 8 cents per share and revenue rose 41 percent at $194.7 million from $138.5 million in the same quarter a year earlier. GT Solar International, Inc. (NASDAQ:SOLR, $5.31, -$0.15, -2.15%) fell 1.32 percent to $5.24 on Thursday morning pre-market trading session, even on Wednesday, shares of GY Solar declined 2.15 percent, closed on $5.31.
Office-supplies retailer Staples Inc. on Thursday reported that its first-quarter net income climbed 30 percent by improved sales across all three business segments. Staples reported first-quarter profit of $188.8 million, or 26 cents per share, compared with $143 million, or 20 cents per share and revenue rose 4 percent to $6.1 billion from $5.82 billion in the same quarter a year earlier. Staples, Inc. (NASDAQ:SPLS, $21.54, -$0.41, -1.87%) dropped 2.51 percent to $21.00 on Thursday morning pre-market trading session, even on Wednesday, shares of Stamples were down 1.87 percent, closed on $21.54.