Orlando, FL 5/30/12 (StreetBeat) -- Specialty tea retailer Teavana Holdings Inc (NYSE: TEA) reported lower-than-expected quarterly revenue on tepid sales at its stores open at least a year.The company's shares plunged 19 percent to their life-low of $13.60 in early trading. The stock was one of the top percentage losers on the New York Stock Exchange.
Net sales rose 27 percent to $44.3 million in the first quarter, but missed estimates of $45.1 million, according to Thomson Reuters I/B/E/S.
Comparable sales increased 1.7 percent.
Net income rose to $3.5 million, or 9 cents a share, from $3.3 million, or 9 cents a share, a year earlier.
Excluding items, it earned 10 cents a share, in line with the average analysts' estimate.
Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.
StreetBeat Disclaimer
No comments:
Post a Comment