Looking at August's same-store sales, there's been some reason for thought for retailers of all stripes. Teen retailer Aeropostale (NYSE:ARO), a darling of the teen set, saw its shares sink by 5% at one point today, though the mishmash of disappointing same-store sales garnered all kinds of share-price seesawing in the industry.
It's a matter of opinion on whether characteristics such as a September Labor Day weekend selling August short or a monster storm such as Hurricane Charley (or the approaching Frances) are really the major reasons why shopping faded away last month. However, fade it did, when you consider the August same-store sales figures released by so many retailers today.
When my Foolish colleague Bill Mann examinedCostco's (NASDAQ:COST) less-than-august August earlier today, he pointed out that unlike last year, there are several reasons consumers may be tapped out of cash, including this year's lack of tax rebate checks.
Even women's retailer -- and sales powerhouse -- Chico's FAS (NYSE:CHS), traditionally mighty, showed a drop in August same-store sales. (For more on Chico's August, check out Fool contributor W.D. Crotty's Take today.)
What surprises me is that Aeropostale actually seems to have done well compared with the rest of the bunch and still got a little smack in the stock price, though it seems maybe many investors were waiting for the right opportunity to take a chance and sell.
Aeropostale's same-store sales increased 6.2% in August, as compared with last year's 1.6% figure, while sales rose 28.3%. If investors have any bones to pick with Aeropostale, it's that its same-store sales increase didn't reach Wall Street expectations.
Although most retailers reported a lackluster August and missed Wall Street's projections, the prognosis seems better for some retailers than others. Despite the miss, Aeropostale posted a decent same-store sales increase while others posted lackluster or flagging August numbers. When you consider Aeropostale's recent strong earnings, it seems investors who sold the stock today were searching for an excuse, not a reason.
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Alyce Lomax does not own shares of any of the companies mentioned.
