Retail Winners & Losers: Aeropostale, Men's Wearhouse
NEW YORK (TheStreet) -- Retail stocks are moving wildly following April same-store sales results and earnings reports.
Aeropostale (ARO) 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) 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 Men's Wearhouse (MW) raised its first-quarter guidance, sending shares skyrocketing 17% to $32.70.Select the service that is right for you!
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