L Brands Inc., which owns Victoria’s Secret and has powered through a choppy economy, reported August same-store sales that narrowly missed estimates, the latest evidence of weakness among U.S. apparel chains.
Coach Inc. dropped the most in six months after saying second-quarter revenue fell at its established stores in North America and that the trend would continue as increasing competition hurts handbag sales.
Coach Inc., the largest U.S. luxury handbag maker, tumbled the most in almost 11 years after reporting fiscal fourth-quarter revenue that trailed analysts’ estimates amid slowing sales growth in North America.
Retailers from Walgreen Co. to Macy’s Inc. kept stores shuttered in hard-hit New York and New Jersey while reopening some other East Coast locations as they worked to assess the damage to their shops and sales.
Abercrombie & Fitch Co., the teen retailer with more than 1,000 stores, plunged to a three-year low after cutting its annual forecast yesterday, citing an anticipated drop in same-store sales in the second half of 2012.
Target Corp. took some flak for opening stores on Thanksgiving because doing so would give employees less celebrating time with their families. Still, the 9 p.m. start attracted more parents and their kids.
With Abercrombie & Fitch Co. giving away 1,000 iPads and J.C. Penney Co. offering $10 million of free haircuts, U.S. retailers are pulling out the stops to make sure they get a share of what may be the best back-to-school shopping season in a decade.
Retailers including Limited Brands Inc. and Wet Seal Inc. reported August sales that beat analysts’ estimates, helped by back-to-school shopping, while closings forced by Hurricane Irene hurt department-store traffic.