Teen retailer Aeropostale Inc. said revenue in stores open at least one year was flat for the quarter, and slashed its earnings expectations for the quarter. Its shares dropped more than a quarter in morning trading. Wet Seal and Zumiez both missed expectations for July.

But Hot Topic Inc. and American Eagle Outfitters Inc. both reported strong second-quarter results. American Eagle Outfitters Inc. on Wednesday raised its forecast for second-quarter earnings, saying that sales during the period were stronger than expected.

Department stores were mixed. Macy's and Kohl's both topped expectations, but the more expensive Saks Inc. fell short.

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