Teen apparel retailer Aeropostale Inc. posted a loss for the 12th straight quarter as the company heavily discounted to entice shoppers and took charges related to the closure of stores which performed poorly.
The mall-based retailer’s net loss narrowed to $26.4 million, or 33 cents per share, in the third quarter ended Oct 31, from $52.3 million, or 66 cents per share, last year.
Aeropostale’s sales plunged to $363.3 million, while comparable sales, including its e-commerce channel, fell 10% in the quarter.
The material has been provided by InstaForex Company – www.instaforex.com