Diamonds and Dogs
1/3/13Family Dollar Stores Inc. (FDO)
Family Dollar is finding it hard to make a buck today, down 13.16% at $55.61. Shares of the discount retailer dropped after the company released earnings. Family Dollar announced that net income fell to $80.3 million, or $0.69 per share, for the last fiscal quarter. Analysts were expecting earnings per share of $0.74, and the company had expected EPS to be in a range of $0.69 to $0.78. Family Dollar management blamed a worsening macro-economic environment for the decline in net income. The company saw shares fall more than $8.40 today, pushing the stock near its 52-week low of $53.03.
Hot Topic Inc. (HOTT)
Hot Topic is on fire today, up 10.91% at $10.78. The mall and web-based retailer saw its shares gain momentum after news that holiday sales increased for the company. Hot Topic management said that holiday sales increased 4 percent from last year, and that the company will open a number of new stores in 2013. Total sales during November and December hit $177.3 million. This was led by the company's store, Torrid, which had sales grow by 18 percent. Hot Topic hit a new 52-week high today by $0.05.