Shares of women's clothing retailers declined on Thursday, following mixed February retail sales reports that suggested a desire among consumers to cut back on spending in the face of a softening economy.
Shares of Limited Brands Inc. fell 33 cents, or 2.2 percent, to $15.03, after same-store sales fell 9 percent. The drop was smaller than analysts expected, however.
Elsewhere, shares of Chico's FAS Inc. declined 42 cents, or 5 percent, to $8.08, after the retailer posted a fourth-quarter loss, compared with a year-ago profit. Chico's also forecast negative same-store sales, or sales at stores open at least one year, for the first half of 2008.
Meanwhile, AnnTaylor Stores Corp. said same-store sales fell 1.7 percent, but the decline was smaller than analysts expected because of better results at its Loft stores. The stock lost 63 cents, or 2.6 percent, to $23.89.
Coldwater Creek Inc. slid $1.14, or 22.4 percent, to $3.91. The apparel retailer's fourth-quarter loss and outlook for a wider-than-expected first-quarter loss caused an analyst to downgrade the stock.
Christopher & Banks Corp. declined $1.26, or 12 percent, to $9.31, after the company said same-store sales fell 5 percent during February as fewer consumers visited its stores.
Dress Barn Inc. declined 42 cents, or 3 percent, to $13.38.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.
Terms & Conditions
RSS Headlines
Fool UK