Joe’s Jeans (NASDAQ: JOEZ) dropped 7.1% today to close at a share price of $1.17. At the same time, the company management scheduled a call to discuss earnings results for second quarter of 2012. Volume of the stock stayed up at a total of 860, 812 shares, bypassing its average of 343, 174 shares.
Despite today’s share price drop, Joe’s Jeans has produced an attractive stock chart in 2012. The stock has steadily rallied a respectable 122.9% in share price since New Year’s Day. On April 4, 2012, the share price of Joe’s Jeans peaked at $1.45, which has been the stock’s highest performance year-to-date. The recent peak price of the stock was on July 13, 2012, at a price of $1.26.
A number of newsletters promoted Joe’s Jeans today. According to @pennystock24 on Twitter, Penny Omega, Galaxy Stocks, Dr Stockpick, CRWE Select, Best OTC, Stock Bling all promoted Joe’s Jeans today. There are 24 results found on stockpromoters.com regarding to the stock promotion of Joe’s Jeans, while none of the companies were listed as having been compensated.
Today, July 16, 2012, Joe’s Jeans announced financial results for the second quarter ended May 31, 2012 just as the market closed. The highlights of the results include: Consolidated second quarter net sales increased 16% to $28.6 million; Retail store net sales increased 26%; Retail same store sales increased 10%; Wholesale net sales increased 14%; and operating income increased 82% to $3.1 million for the second quarter of fiscal 2012.
Recent notable headlines of Joe’s Jeans also include:
- June 19, 2012: Joe’s Jeans announced that the company had entered into a new multi-year international distribution arrangement with Advanced Retail for France, which will supplement Joe’s Jeans’ existing distributors in the United Kingdom, Germany, Italy and Russia.
- June 4, 2012: Joe’s Jeans announced the lease signing for its 24th retail store located in South Coast Plaza in Costa Mesa, California.
Joe’s Jeans is engaged in designing, developing and marketing its Joe’s products, which include denim jeans, related casual wear and accessories. The company sells its products to numerous retailers, which include department stores, specialty stores and distributors worldwide, and through its retail stores.
Joe’s primary operating subsidiary is Joe’s Jeans Subsidiary. Joe’s Jeans operates in two primary business segments: Wholesale and retail. Its wholesale segment consists of sales to retailers, specialty stores and distributors. Also some international sales are made directly to wholesale customers who operate retail stores. Its retail segment consists of sales to consumers through full-price retail stores, outlet stores and through the company’s online shop.
In September 2011, the company opened its second store in the Middle East. The company competes with True Religion, Seven for All Mankind, Citizens of Humanity and Hudson and J Brand.
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