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Teens are often the hardest consumers to grab with tastes as fickle as their moods. Now is the time for retailers to position themselves ahead of the back-to-school season.
May 24- Abercrombie& Fitch Co on Friday reported a steeper-than-expected drop in first-quarter comparable sales, blaming inventory shortages, and slashed its profit forecast, sending the teen clothing retailer's shares down 10 percent.
The S&P 500 is down one percent for the week after being up four weeks in a row. So far, the declines we have seen this year have been on the order of three percent.
May 24- Abercrombie& Fitch Co on Friday reported a steeper-than-expected drop in quarterly comparable sales, in part because of inventory shortages, and the teen clothing retailer's shares fell more than 11 percent.
U.S. stock market futures indicated a higher opening on Wednesday, ahead of a closely-watched speech by Fed Chair Ben Bernanke.
May 22- American Eagle Outfitters Inc on Wednesday reported a decline in first-quarter sales as its young customers cut back on spending, and the teen retailer does not expect sales to pick up in the current quarter.
While 94 percent of the companies in the Standard & Poor's 500 Index have already reported quarterly earnings, this week remains a key week for the retail industry with 24 retailers reporting earnings—12 of which are S&P 500 components.
Abnormally cold weather curbs consumer demand for spring goods and apparel, but some companies, including drug chains and dollar stores, are benefiting from the spring’s delay.
*Costco same-store sales up 6 percent; Gap up 3 percent. March 7- Gap Inc and Costco Wholesale Corp were among several U.S. chains on Thursday to report stronger-than-expected sales for February, when consumer confidence about an improving job market offset the impact of higher taxes.
*Costco comparable sales up 6 percent, Limited up 3 percent. March 7- Victoria's Secret parent Limited Brands Inc and Costco Wholesale Corp were among several U.S. chains on Thursday to report stronger-than-expected sales for February, when consumer confidence about an improving job market offset the impact of higher taxes.
After a difficult January, when shoppers first felt the effect of a payroll tax hike that lowered take-home pay by 2 percent, some retailers got a little relief in February from growing employment and a rising stock market.
*Costco February comp sales up 6 percent, Limited up 3 percent. March 7- Victoria's Secret parent Limited Brands Inc and Costco Wholesale Corp reported better-than-expected sales for February, when consumer confidence about an improving job market offset the impact of higher taxes.
Stocks ended higher Wednesday, with the Dow extending its gains to post a record high for the second-straight day, amid signs of improvement in the labor market.
Take a look at some of Wednesday's midday movers:
*Sees first quarter adjusted profit per share 16- 19 cents. March 6- American Eagle Outfitters Inc on Wednesday gave a profit forecast that fell short of Wall Street expectations and said same-store sales would fall in the current quarter, a setback for a company that has been winning market share from rivals.
U.S. stock index futures were higher Wednesday, with the Dow poised to extend its gains a day after hitting an all-time high, following a better-than-expected private sector employment report.
The company, which outperformed rivals Aeropostale Inc and Abercrombie& Fitch Co during the Christmas season, said on Wednesday that it expected same-store sales this quarter to fall by a mid-single-digit percentage rate.
March 6- American Eagle Outfitters Inc on Wednesday reported a higher profit for the holiday quarter, helped by fewer markdowns, but the teen clothing retailer gave a weak sales forecast for the current quarter, citing a tough economy and unfavorable weather.
Here are a handful of stocks to watch if small-cap and mid-cap mergers accelerate in 2013. TheStreet.com reports.
"We're close to it. The market fluctuates, and I think it's going to rise and we'll probably see it soon," one pro said.