Teen retailer Aéropostale Inc. posted a wider second-quarter loss, as well as a decline in sales.
For the three months ended Aug. 2, the net loss nearly doubled to $63.8 million, or 81 cents a diluted share, from a net loss of $33.7 million, or 43 cents, a year ago. Excluding certain charges such as store impairment costs and consulting fees, the adjusted net loss was $36 million, or 46 cents a diluted share, in the current quarter, beating Wall Street’s consensus of an earnings per share loss of 49 cents. Net sales fell 12.7 percent to $396.2 million from $454 million, as comps fell 13 percent on top of the 15 percent decline a year ago.
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?"