NEW YORK (TheStreet) -- TheStreet's Laurie Kulikowski said teens aren't shopping at the malls as they once were, as seen in the earnings reported by several retailers.
reported earnings on Thursday after the close. As if the forewarning of a bad quarter didn't hit the stock enough, this earnings report did more damage.
Sales slumped 6% and the company missed by 10 cents analyst estimates calling for a loss of 24 cents per share, she said.
Kulikowski added that analysts believe the company's focus on the higher-end consumer is clearly not working. Aeropostale now plans to close 30 stores by year end, double the previous estimate.
reported pretty solid earnings, she said.
The company earned 64 cents per share, in line with analyst expectations. Sales pushed higher, eclipsing last year's quarterly figures by 8%. The company also boosted its annual dividend to 80 cents per share from 60 cents.
Kulikowski noted that CEO Glenn Murphy said the company's value products at Old Navy, growing online sales and international expansion all contributed to this quarter's success. She concluded that retailers will be looking to have better luck in the second half of 2013, helped by back-to-school sales and holiday shopping.
-- Written by Bret Kenwell in Petoskey, Mich.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.