The back to school season has recently swept through the country and causing retailers to cross their fingers hoping the students (and parents) will kick up their spending habits to make sure their children have proper dorm rooms and clothes for their return to college. That proved true with one teen retailer – yes, just one. Read what Investor’s Business Daily has to say on the subject.
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Most teen apparel retailers scored low grades with customers as the back-to-school shopping season kicked into high gear last month.
The segment’s same-store sales fell 8.9% vs. August 2008, making it the worst-performing group in all of retail for the third straight month, says Ken Perkins, president of Retail Metrics.
It’s no secret the retail industry has been hit hard by a recession that’s chilled consumer spending.
Teen chains and department stores have been the poorest performers throughout the slump as cash-drained consumers have scrimped on purchases of nonessential goods, Perkins says.
Teen clothier Aeropostale (ARO) is one player that keeps bucking the trend. In terms of same-store sales growth, it has outpaced rivals Abercrombie & Fitch (ANF) and American Eagle (AEO) each month since December 2007, according to Perkins.