Joined Nov 11, 2007
31,930 Blog Posts

Retailers Continue to Hit the Skids

“We’ve already noted the weak holiday sales report from Tiffany & Co. (NYSE: TIF) out this morning. Now two more specialty retailers, American Eagle Outfitters Inc. (NYSE: AEO) and Aeropostale Inc. (NYSE: ARO), have posted sales numbers for the period, and the situation has not improved much.

American Eagle reported same-store sales up 5% for the quarter to date, compared with a gain of 13% in the same period a year ago. Excluding online sales, sales increased just 1%, compared with a 12% increase excluding online sales last year.

At Aeropostale same-store sales fell 8% in the nine weeks to the end of December, and that includes online sales. Last year sales fell 9% excluding online sales.

American Eagle reiterated fourth-quarter earnings per share (EPS) guidance of $0.56 and same-stores sales growth in the mid-single digits.

Aeropostale cut its quarterly EPS guidance from a previous range of $0.36 to $0.41 to a new range of $0.20 to $0.24.

A third specialty retailer, Ascena Retail Group Inc. (NASDAQ: ASNA)….”

Read more

If you enjoy the content at iBankCoin, please follow us on Twitter