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Aeropostale updates store closure plans, sees Q3 loss

  • Aeropostale (ARO) tumbles 7.5% AH after reporting a 6% Y/Y drop in sales.
  • Comps growth comes in at -15% for the period.
  • "Our business was pressured by a challenging teen retail environment with weak traffic trends and high levels of promotional activity," CEO Thomas Johnson says, confirming the weakness evident in American Eagle's guidance and Abercrombie's quarter.
  • Q3 outlook: Net loss of $0.21-0.26/ share.
  • The company now plans to close 30-40 stores in FY13 versus previous guidance of 15-20. (PR)
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