News of Low Sales Sends Day Runner Stock Down 24%

Day Runner Inc. shares fell 24% on Tuesday, one day after the maker of personal organizers and planners warned that lower-than-expected sales could cause earnings to drop 22% to 33%.

The Irvine company’s stock closed Tuesday at $13.75, down $4.25. Trading on the Nasdaq was heavy, with 661,700 shares changing hands, 13 times the average daily volume for the past three months.

Day Runner said Monday that “inventory tightening” has hurt sales, as large retailers have not replenished stock as Day Runner products were sold.

The company said it expects the effect on sales will be short-lived, but it will take steps to cut costs and boost profits. Day Runner did not say what those steps will be.