US EARNINGS WRAP: JC Penney, Blockbuster, Abercrombie In Red

   DOW JONES NEWSWIRES 
 

Below is a synopsis of major quarterly releases from Thursday night and Friday morning:

J.C. Penney Barely In Red; Gives Weak 3Q View

J.C. Penney Co. (JCP) swung to a $1 million loss in its fiscal second quarter as falling sales and pension-related expenses weighed on the department-store chain. The retailer boosted its fiscal-year view in light of last week's raised quarterly forecast, but projected a third-quarter bottom line weaker than analysts expected. Shares fell 1.7% premarket to $32.95.

Blockbuster Loss Narrows; Misses Views As Sales Tumble

Blockbuster Inc.'s (BBI) second-quarter loss narrowed on higher margins as the video-rental chain reported results below analysts' expectations amid tumbling U.S. same-store sales. The company also cut its earnings target for the year. Its stock slid 21% to 68 cents.

Abercrombie Swings To Loss On Sales Slump

Abercrombie & Fitch Co. (ANF) swung to a fiscal second-quarter loss on continued drops in sales and margins. The teen-apparel retailer has been increasingly shedding its no-markdown mantra after seeing same-store sales drop sharply month after month as it looks to clear some inventory. Shares were up 3.8% to $34.21 in premarket trading as the result edged above expectations and inventory fell 13% in the first half of the year.

Autodesk 2Q Income Down 88% On Charges, Demand Woes

Autodesk Inc.'s (ADSK) second-quarter profit sank 88% on lower sales and margins as well as a restructuring charges. But earnings excluding items handily topped analysts' expectations, pushing its stock up 3.6% to $25.06.

American Apparel Profit Down 34% As Costs Rise

American Apparel Inc.'s (APP) second-quarter profit fell 34% as the casual and basic clothing retailer reported higher operating expenses and lower same-store sales. Based on weaker-than-expected results and continuing challenges, American Apparel lowered its full-year targets. Its stock was inactive premarket.

Nordstrom Earnings Down 27%, Forecast Boosted

Nordstrom Inc.'s (JWN) fiscal second-quarter profit decreased 27% as the high-end clothing retailer reported lower same-store sales. But while the company raised expectations for the year, shares fell 1.1% to $29.43 in light premarket trading.

Elizabeth Arden Loss Narrows; Gives Downbeat Outlook

Elizabeth Arden Inc.'s (RDEN) loss for the fiscal fourth quarter narrowed despite a double-digit percentage revenue drop as the cosmetics maker recorded smaller charges. The loss was slightly smaller than analysts' forecasts, but the company projected a disappointing loss for its new year. Its stock was inactive premarket.

VanceInfo Earnings Jump 50% On China Growth

VanceInfo Technologies Inc.'s (VIT) second-quarter earnings rose a bigger-than-expected 50% amid robust growth in China and stabilization in its U.S. and European markets. The company - the only China-based IT outsourcing company listed in the U.S. - also projected third-quarter results above analysts' recent views and again boosted its 2009 forecast. American depositary shares rose 4.1% to $15.85.

Ticketmaster Income Slumps 70% On Sales Drop, Merger

Ticketmaster Entertainment Inc.'s (TKTM) second-quarter earnings tumbled 70% amid merger expenses while the live-entertainment ticketer and promoter reported a drop in sales. Shares of the company, which has agreed to sell itself to concert promoter Live Nation Inc. (LYV), were inactive premarket.

Red Robin Earnings Down 19% On Same-Store-Sales Dive

Red Robin Gourmet Burgers Inc.'s (RRGB) fiscal second-quarter earnings fell 19% as the restaurateur's lower marketing spending led to sagging traffic. Same-store sales slumped 11.5%. But earnings topped estimates. Its stock was inactive.