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What: Shares of intimate apparel specialist Maidenform Brands
So what: Wall Street wasn't expecting all that much out of Maidenform this quarter. Earnings per share estimates had the company flat with last year at $0.55, while sales were seen gaining 11%. But the company didn't manage to deliver. In fact, it wasn't even close. Sales crept up a mere 1.6% from last year, while earnings per share dove 20% to $0.44.
Now what: Management's outlook wasn't terribly encouraging, either. The soft bottom line was chalked up to "a decline in consumer traffic in our category" -- which simply means that overall demand is falling. The company sees that continuing at least through the fourth quarter, though it is hoping that new initiatives will help mitigate the falling demand.
All of this hit the company's expected full-year profit, and an "update" to guidance brought down the expected per-share earnings range to $1.73-$1.77. At the midpoint, that's well below the $2.17 that analysts were estimating, and a 10% drop from 2010.
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Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or Facebook. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.