TALE OF THE TOP LINE: Thomson Reuters put the overall increase in April comparable-store sales at 8.9 percent, better than either its final estimate of 8.2 percent or last April’s 1.7 percent result. During a month helped by a late Easter, just as March was penalized by holiday timing, a dramatically smaller sample of teen retailers managed the best sectoral increase, 12.6 percent, followed closely by the 12.1 percent rise among discounters. In the Thomson sample, 60.9 percent of companies beat estimates while, for the first time in memory, none of the companies tracked by WWD experienced a decrease.
AMONG THE MISSING: Abercrombie & Fitch Co. and Aéropostale Inc., two of the teen retailers that, along with American Eagle Outfitters Inc., discontinued the reporting of monthly comps as of February, checked in with quarterly updates that contrasted dramatically. A&F reported a 10 percent increase in first-quarter same-store sales, led by Hollister Co.’s 11 percent improvement, sending its share up 3.7 percent to $73.28 Thursday. Aéropostale could manage no better than a 7 percent reversal in comps and pulled back its EPS guidance to 20 cents, from a prior range of 35 cents to 38 cents, depressing its shares 16.5 percent to $21.19. Aéropostale chief executive officer Thomas Johnson pointed to a teen sector that “remains intensely promotional.”
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"