SP peaked at $1.12 a few days before the "Ominous Warning"...

SP peaked at $1.12 a few days before the "Ominous Warning" article came out.

It looks like that acted as a psuedo-downgrade as SP has dropped 30% since, a similar amount to what JBH, RCG or TRS experienced with their own.

I would also say when retail apparel goes wrong, it can really go wrong. Having a look at the other 2 women's fashion companies in recent years:

SFH (2010 to 2012) EPS 15, 7, -1
NBL (2008 to 2014) EPS 12, 0, 8, 4, -6

And revenue was steady during those periods.

CTY was on similar path, until they made a couple of big acquisitions that offset their natural decline. That's the prototype PGR will need to be, as business as usual for clothing retailers has proven to be a slow death for many big names.