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Aeropostale Q1 loss widens; same-store sales fall 13%
New York – Aeropostale Inc. reported a net loss of $76.8 million in the first quarter of fiscal 2014, up from the $12.2 million net loss it reported a year earlier. It also projected a second-quarter loss forecast bigger than analysts expected.
The struggling retailer, which has reported a loss for six consecutive quarters, had a generally difficult quarter overall, as net sales fell 12% to $395.9 million from $452.3 million and same-store sales decreased 13%. Aeropostale has reported declining comparable sales for seven straight quarters.
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Designed by Baltimore’s DDG, Mall of Istanbul opens
Baltimore — The Mall of Istanbul opened today in Istanbul, Turkey. The 34.5-acre mixed-use development features 2.1 million sq. ft. of retail space, 1.4 million sq. ft. of residential space and 322,600 sq. ft. of office space.
Baltimore-based DDG won the design contract for the mall in 2009 in an international competition.