NEW YORK (
) -- Retail stocks are moving wildly following April same-store sales results and earnings reports.
(ARO - Get Report)
is one of the biggest decliners, after the teen retailer lowered its first-quarter outlook.
The teen retailer said on Thursday that its same-store sales during the quarter declined at least 7% compared with an 8% increase in the year prior. Aeropostale was forced to increase its promotional levels in order to move spring and clearance merchandise.
>Live Blog: April Retail Sales
As a result, management slashed its outlook for the quarter to 20 cents a share from prior forecast of 35 cents to 38 cents.
Shares of Aeropostale toppled 15.3% to $21.60 in afternoon trading.
On the other end of the spectrum, shares of rival
Abercrombie & Fitch
(ANF - Get Report)
are trading higher, following its better-than-expected first-quarter sales results.
The company reported a 22% jump in sales to $836.7 million, higher than the $793.2 million analysts expected. Total same-store sales for the three-month period rose 10%.
Shares of Abercrombie & Fitch increased 5.6% to $74.67 Thursday afternoon
(MW - Get Report)
raised its first-quarter guidance, sending shares skyrocketing 17% to $32.70.