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.
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.
May 23- Gap Inc reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia. The company, which also owns Banana Republic, posted net income of $333 million, or 71 cents per share, for the quarter ended May 4, up 42.9 percent from $223 million, or 47 cents per share, a year earlier.
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.
March 26- Aeropostale Inc lost its bid to dismiss a lawsuit accusing the teen clothing retailer of defrauding shareholders in 2011 by hiding problems with excess inventory and slow sales that ultimately weighed on its earnings and stock price.
*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.
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.
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