Aeropostale Inc. posted a loss in its latest quarter on poor sales, issued a weak outlook and increased the number of stores that it plans to close.
The New York-based company is the latest teen retailer to report slumping sales. Abercrombie & Fitch and American Eagle Outfitters have also noted poor customer traffic. Teen shoppers’ purchases are tied to how much their parents are willing to spend, and higher taxes this year have weighed on consumers.
Known for putting its logo all over its clothing, Aeropostale is trying to shift to selling trendier, more expensive clothing.