Even Misers Part With Coin At Aeropostale And Ann
While still discreet about their monetary futures, Americans are removing resolutely behind in to the robe of attack the malls after the retrogression kept them tightfisted with their income during the recession. They"re still looking bargains but they are apparently in a selling mood.Both Aeropostale ( ARO - news - people ) and Ann Taylor ( ANN - news - people ) took value of penny-pinching consumers during the fourth entertain to reanimate sales even as spending remained soft. As fashion-conscious teenager consumers traded down from reward brands, together with American Eagle Outfitters ( AEO - news - people ) and Abercrombie & Fitch ( ANF - news - people ), they incited to the somewhat less costly Aeropostale to get their selling fix. Aeropostale reported gain of $96.6 million, or 99 cents per share, a 42% enlarge from the year-ago quarter. Investors cheered the headlines and sent shares up 5.6% to $28.57. (See "Retail Sales Up Despite Consumer Caution.")emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/12/aeropostale-ann-taylor-markets-equities-retail-update.html?partner=yahoobuzzWhile Aeropostale competence lose business as teenagers traffic behind up in the softened economy, theres less discuss over Ann Taylors capability to miscarry with firmer consumer spending. The womens wardrobe tradesman reported a turnaround in the fourth entertain with gain of 5 cents per share, up from a loss of $1.03 per share one year ago. Shoppers traded down from the higher-end Ann Taylor store to the some-more tolerably labelled Ann Taylor Loft during the quarter, but both stores available same-store sales increases of 10% in February. Ann Taylor stores available a 7.3% decrease in same-store sales during the entertain whilst Loft stores came out forward with a 2.1% enlarge in the same metric."Better merchandising strategies at both the Ann Taylor and Loft chains, joined with stronger spending trends between women, will capture consumers behind in to the stores," writes Morningstar researcher Zoe Tan.Shares of Ann Taylor lost 2% to $19.07 Friday.Retail sales total for February, expelled by the U.S. Census Bureau on Friday, reported an suddenly clever expansion of 0.3% for retailers. Sales at wardrobe and wardrobe appendage stores jumped 0.6% notwithstanding analysts" prior worries that snowstorms and wintry continue would keep shoppers afar from the malls. (See "Retail Rally Ripe For Retrenchment.") ,,2010/03/12/aeropostale-ann-taylor-markets-equities-retail-update.htmlEven with the uptick in sell sales, "Consumers are not spending with desert or at the same rate they were during the tallness of the expansion," pronounced RBS economist Michelle Girard. The Feb sales enlarge additionally comes notwithstanding an primary Mar consumer view celebration of the mass from the University of Michigans consult that showed a decrease from last months figure, dipping to 72.5% from 73.6%. (See "As Retail And Sentiment Diverge, Focus On Jobs.")
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