NEXUPS, Inc. (NASDAQ:NEX) reported first-quarter earnings on Thursday, as it said it would close stores in January as it seeks to cut costs and reduce the amount of inventory it sells.NEXUS, which operates more than 400 stores across the United States, said it expects its retail business to lose between 5% and 6% of its revenue for the year, and its sales in the fourth quarter would be up slightly.

The company expects to have an operating loss of $8 million.

Nexus said it will cut sales to $1.35 per unit, which is below the average of $1 per unit expected for the fourth-quarter.

Nxture, which has been struggling to expand its business, will shut its two locations in Colorado Springs, Colorado, and Las Vegas, Nevada.

It said it is planning to expand in California and New York.

Shares of Nxture and Nxtures products are down 7% for the quarter, and NXTURE shares are down 16% for 2018.

Shares in Tesla Motors Inc. were down 5% for its second-quarter financial results, and Tesla shares were down 7%.