American Eagle Outfitters dropped 9.4% to $14.00 after the retailer missed quarterly expectations. 

Total net revenues increased 2% to $1.055 billion and net income plunged to $31.7 million from $95 million a year ago. 

Gross margin declined to 36.8% from 42.2% a year ago and diluted earnings per share fell to 16 cents from 47 cents a year ago. 

Total inventory at the end of the quarter at cost increased 46% to $682 million compared to $467 million last year. 

Higher costs drove roughly half of the increase and the company also ordered more inventories to avoid supply chain issues. 

The retailer guided second quarter revenues growth will match the first quarter rate and gross margin rate of 33% reflecting higher markdown to clear spring inventory. 

Big Lots declined 15.8% to $25.80 after the discount retailer reported weaker than expected quarterly results and issued cautious outlook for the year.

Net sales declined 15.4% to $1.37 billion after comparable sales fell 17% from a year ago and reported 39 cents a share loss compared to $2.68 a year ago. 

Burlington Stores Inc rose 1.1% to $171.99 after the retailer said total sales in the quarter ending on April 30 declined 12% to $1.9 billion on a comparable store sales fall of 18%. 

Net income in the quarter was $16 million or $0.24 per share compared to $171 million or $2.51 per share a year ago. 

The retailer guided second quarter comparable store sales to decline between 13% and 15% and for the full-year fall between 6% and 9%. 

Costco Wholesale decreased 1.3% to $465.00 after the retailer said U.S. comparable sales in the first quarter rose 10.7% excluding fuel sales and reported first quarterly revenues in excess of $50 billion. Membership revenues surged 9% approaching $1 billion.

Dell Technologies rose 13% to $49.50 after the computer and systems maker reported net sales in fiscal 2023 first quarter ended April 29 increased 16% to $26.1 billion and diluted earnings per share increased 63% to $1.37. 

Net income in the quarter surged 62% to $1.07 billion.  

Gap Inc fell 5.6% to $10.46 after the specialty apparel retailer said net sales in the quarter ended April 30 declined 13% to $3.5 billion and comparable sales declined 14%. 

Gross margin plunged 930 basis points from a year ago to 31.5%. 

The retailer revised and lowered its fiscal year outlook and now expects fiscal 2022 revenue to decline in the low to mid-single digit range versus last year.

Hibbett Inc plunged 6.7% to $51.10 after the sporting goods retailer reported April quarter net sales declined 16.3% to $424.1 million on a comparable sales fall of 18.9%.

Net income for the 13-weeks ended April 30, 2022, was $39.3 million, or $2.89 per diluted share, compared to $84.8 million, or $5.00 per diluted share a year ago. 

Ulta Beauty Inc soared 11.2% to $420.49 after the cosmetic retailer and beauty salon said net sales in the first quarter 2022 ended April 30 increased 21.0% to $2.3 billion. 

Comparable sales at stores open at least 14 months and e-commerce sales increased 18.0%, driven by a 10.0% increase in transactions and a 7.3% increase in average ticket.

Net income in the quarter increased to $331.4 million or $6.30 per share from $230.3 million or $4.10 a year ago. 

The company revised its fiscal 2022 revenue outlook to range between $9.35 billion and $9.55 billion from the previous estimate of $9.05 billion and $9.15 billion. 

Comparable sales growth rate was revised higher between 6% and 8% from the previous estimate of 3% and 4%.