Sector Snap: Teen retailer shares mainly fall

Shares of teen retailers mainly fell Thursday after they reported a mixed bag of same-store sales results for May with low-priced retailers faring the best.

Aeropostale Inc. and The Buckle Inc. _ both known for offering deals and trendy fashions _ reported double-digit increases in same-store sales, or sales at stores open at least a year, for the month. Both also beat Wall Street estimates, according to a survey by Thomson Reuters.

But despite the better-than-expected gains, shares of both companies dipped in afternoon trading. Shares of the Buckle, which reported a same-store sales rise of 13.4 percent, fell 86 cents, or 2.4 percent, to $35.23.

Sterne Agee & Leach analyst Margaret Whitfield said in a note to investors that although the company's same-store sales were higher than she expected, the company's menswear section underperformed.

At Aeropostale, meanwhile, Whitfield said in a separate analyst note that e-commerce was strong and that the company's inventories are "well-controlled and on-plan." The company's same-store sales rose 19 percent during the month.

Aeropostale shares dipped 13 cents to $36.47.

Abercrombie & Fitch Co., though, reported a steeper-than-expected decline in same-store sales for the month. Abercrombie had resisted lowering its prices until recently. The company said its same-store sales fell 28 percent in May.

Shares also dropped, falling $3.51, or 11 percent, to $28.19.

Other teen retailers posted single-digit declines in same-store sales and saw shares fall slightly. One exception was Wet Seal Inc., which reported an 8.4 percent dip in same-store sales but beat Wall Street estimates for the month. Investors boosted shares up 18 cents, or 6 percent, to $3.18.