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TrendSource: School supplies leading back-to-school purchase
San Diego – Ninety-three percent of U.S. families are doing back-to-school shopping for students age 18 and younger this year and are expected to spend a total of $72.5 billion. Results of the 2013 Back to School Intentions Study from TrendSource show that school supplies are far and away the most popular item, with 95% of back-to-school shoppers buying them.
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Aeropostale swings to Q2 loss; increases store closings
New York -- Aeropostale posted a loss of $33.7 million for the fiscal second quarter that ended Aug. 3, compared to a profit of $71 million a year ago. The teen retailer issued a weak outlook, and upped the number of stores that it plans to close.
Sales decreased 6% to $454.0 million from $485.3 million a year ago. Same-store sales, including the e-commerce channel, fell 15%.
The retailer said it now plans to shut down 30 to 40 Aeropostale locations this fiscal year. Previously, it had stated its plans to close 15 to 20 stores.