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Fly News Breaks for August 28, 2015
ARO
Aug 28, 2015 | 08:32 EDT
Jefferies analyst Randal Konik called Aeropostale's Q2 a "reset" quarter during which the company moved through old product to make way for new back-to-school merchandise. While early reads on the back-to-school season show progress, Konik thinks the company still faces many hurdles ahead with profitability "still a ways off." The analyst keeps a Hold rating on Aeropostale, citing its limited visibility, and cut his price target on shares to $1.25 from $2.50.
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