- 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)
Aeropostale updates store closure plans, sees Q3 loss
Aug 22 2013, 16:22 ET