Apparel retailers still struggling

New York City August was another tough month for the nation’s apparel retailers, the majority of whom on Thursday posted sales declines for August as shoppers held back on back-to-school purchases and continued to focus on necessities.

Because Labor Day falls a week later this year, some back-to-school buys are likely to come later, some experts said. Early results are "a bit of a mixed bag," said Ken Perkins, president of retail consulting firm Retail Metrics, in an Associated Press report. "The initial read is a bit soft on the teen apparel side."

Aeropostale, which has been an outstanding performer throughout the recession, continued to attract shoppers. The chain said Thursday that same-store sales rose 9% in August, beating Wall Street estimates, and prompting it to raise its third-quarter earnings guidance. The Buckle typically an outperformer, said results rose 3.6% but missed analyst expectations.

Abercrombie & Fitch Co. said Thursday that its same-store sales plunged 29% in August, worse than expected. Other chains whose same-store sales results were worse than expected included Hot Topic, where sales fell 8.1%, and Wet Seal, whose sales dropped 11.2%.

Meanwhile, Zumiez and Wet Seal also reported results dropped, but did better than analysts predicted. So did Gap, whose comparable-store sales fell 3%. The chain’s results were fueled by a strong performance at its value-priced Old Navy division, whose same-store sales climbed 4%, far better than the 6.4% decline analysts had projected.

In other August same-store sales results:

• Limited Brand’s sales fell 4%, but that beat the 5.9% drop analysts expected.
• American Eagle Outfitters’ sales dropped 7%, smaller than analysts expected.
• Children's Place Retail Stores’ sales fell 8% in August, a much larger decline than analysts expected.