Early returns on September retailing results showed an uneven performance posted by the red-hot teen clothing chains.
On the upside,
American Eagle Outfitters
said its same-store sales for the month rose 13%, beating Wall Street's expectations. Total sales were up 20.9% to $183.8 million.
The retailer also affirmed its third-quarter earnings guidance, predicting a profit in a range from 43 cents to 44 cents a share. That would mark an increase from last year's third-quarter earnings of 39 cents a share.
Another company in the sector,
, disappointed investors with a same-store sales drop of 4.2%, Analysts were expecting a small gain. Total sales increased 15.1% to $104.3 million.
"While our sales trend started off strong at the beginning of the month, it decelerated as the month progressed due to an unexpectedly challenging retail environment," the retailer said in a statement. "Despite our healthy transaction levls, our average unit retail continues to be under pressure due to increased promotional activity. We continue to make progress on clearing through our excess inventory and are focused on positioning ourselves appropriately for the holiday selling season."
Based on the results, Aeropostale lowered its guidance for the third quarter, forecasting earnings of 45 cents to 48 cents a share. Analysts were expecting earnings of 50 cents a share, according to the consensus estimate reported by Thomson First Call.
continued its losing streak, posting a decline in same-store sales of 5.6%. Total sales rose 8% to $62.5 million. The mall-based clothing chain geared toward the counter-culture set affirmed its third-quarter earnings estimate, expecting to log 15 cents to 18 cents a share.