Sears, Abercrombie shares soar, J.M. Smucker and Hormel sink

Yahoo Finance

Here’s some of the stocks the Yahoo Finance team will be tracking for you today. Retail and food stocks are in focus this morning.

Sears Holdings (SHLD) shares soared after the struggling retailer reported a smaller-than-expected loss for the second quarter. However, same-store sales fell 11.5% and the company plans to close 28 more Kmart stores.

Tiffany (TIF) shares were higher early Thursday. The high-end jewelry retailer posted better than expected earnings and revenue for last quarter driven in part by strong sales in Japan.

Abercrombie & Fitch (ANF) soared this morning after the teen retailer delivered a smaller-than-expected loss for second quarter thanks to strong demand for its Hollister brand.

Dollar Tree (DLTR) shares jumped after the biggest US dollar-store chain came in with a beat on both its top and bottom lines. Dollar Tree credited its success to lowering costs and 1% rise in same-store sales at its Family Dollar stores.

J.M. Smucker (SJM) stock was sharply lower in early trading. The company reported a miss on both EPS and revenue for the second quarter. CEO Mark Smucker said earnings were hurt by lower-than-expected demand for Folgers roast and ground coffees.

Hormel Foods (HRL) shares fell. after the maker of Spam and other food products delivered earnings and revenue that fell short of Wall Street views. The company also cut its outlook for the year citing increased volatility in commodity prices. Separately, Hormel announced it’s buying Brazil’s Cerrati brand in a deal worth over $100 million dollars. This as it looks for ways to grow its brand.