Trina Solar Limited (NYSE: TSL) shares soared after the company reported better-than-expected first quarter earnings. Quarterly revenue for the company fell 15.4% year-over-year to $444.9 million, which translated to net income of $26.5 million, or $0.37 per diluted American depositary share. Analysts, on average, had been expecting the company to turn in earnings of just $0.03 per share on higher sales of $460.78 million. CEO Jifan Gao stated, "We remain focused on maintaining profitable growth as opposed to pursuing volume growth alone. By employing this strategy, we increased our gross margin to 20.6% this quarter, a significant improvement from the previous quarter's 15.1%. This improvement underpinned a net income increase of 73.5% quarter-over-quarter."
Trina Solar Limited operates as an integrated solar-power products manufacturer and solar system developer in the People’s Republic of China, Europe, the United States, and other Asia Pacific regions. The company designs, develops, manufactures, and sells photovoltaic (PV) modules comprising monocrystalline PV modules ranging in various power outputs; and multicrystalline PV modules ranging from 230 W to 310 W in power output for use in residential, commercial, industrial, and other solar power generation systems.
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American Eagle Outfitters, Inc. (NYSE: AEO) has forecast another quarter of falling comparable-store sales and also announced that it would close 150 more stores in North America as it continues to struggle to attract fickle teen shoppers. The company fell to a more than 30-month low in midday trading on Wednesday. The 150 stores it plans to close over the next three years include nearly 100 American Eagle stores. In 2014 alone, it plans to close about 50 American Eagle stores and 20 aerie stores. The company has closed a total of 42 stores in 2013.
American Eagle Outfitters, Inc., together with its subsidiaries, operates as an apparel and accessories retailer in the United States and Canada. The companys retail stores offer denims, sweaters, fleece, outerwear, graphic T-shirts, footwear, and accessories for 15 to 25-year old men and women under the American Eagle Outfitters brand name; and intimates and personal care products for girls under the aerie brand name.
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