Specialty apparel retailers reported dismal second-quarter earnings on Wednesday, hurt by decreased store traffic and weak demand for spring and summer merchandise.
Tween Brands, Inc. posted a 64 percent drop in second-quarter earnings to $2.1 million, or 7 cents a diluted share, from $5.9 million, or 18 cents in the year-ago period. Sales for the quarter climbed 15 percent to $213.7 million from $185.8 million last year, while same-store sales decreased 2 percent.
Talbots, Inc. saw a further loss in profit, with second-quarter earnings down $13.3 million, or 25 cents a diluted share, from a loss of $3.9 million, or 7 cents, in last year’s period. Results for the quarter include 10 cents per share in acquisition-related and financing costs. Sales at the Talbots grew slightly to $572.3 million from $571.4 million, while same-store sales fell 4.8 percent.
Plus-size women’s retailer Charming Shoppes, Inc. posted a 44 percent decline in second-quarter earnings, down to $18.3 million, or 14 cents a diluted share, from $32.6 million, or 24 cents. Sales rose 1 percent to $770.9 million from $763.4 million.