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.
Home-improvement stores selling emergency supplies and coffee shops providing a break from the cleanup may benefit from Hurricane Irene, while department stores shut because of flooding likely lost sales.
U.S. retailers’ September same-store sales topped analysts’ estimates, led by discount and specialty- apparel chains that benefited from back-to-school shopping, while department stores trailed projections.
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.