Retail Winners & Losers: August Wears Red
(ICSC data and stock prices added.)
NEW YORK (TheStreet) -- Across the board, August was awash in red, with 21 out of the 28 retailers reporting same-store sales results on Thursday in negative territory. The International Council of Shopping Centers said total same-store sales slipped 2% for the month.
But in each sector there were some clear winners and losers. Here's how TheStreet breaks it down.
TEEN RETAILERS:Loser: Abercrombie & Fitch (ANF) once again missed the mark, with August same-store sales plunging 29%, lower than the 23.9% tumble analyst expected. While the teen retailer significantly improved its merchandise selection for back-to-school and lowered some of its prices, shoppers are still hesitant to spend, and instead are trading down to wallet-friendly players like Aeropostale (ARO). Shares of Abercrombie sank 4% to $30.82 in morning trading. Winner: Aeropostale once again was one of the biggest winners, jumping 9% during the month, more than the 7.1% forecast. Aeropostale raised its third-quarter outlook on better-than-expected results. The teen retailer now forecasts earnings in the range of 78 cents to 80 cents a share, up from a prior guidance of 76 cents to 78 cents a share. The news sent shares climing 6% to $40.96 in morning trading.
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