NEW YORK — Increased promotional pressures erased a sales gain at Aeropostale Inc. and led to an 8.3 percent decrease in third-quarter profits.
The New York-based specialty retailer, which sells casual apparel and accessories to young adults, said for the three months ended Nov. 2, its income dropped to $15 million, or 39 cents a share, at the upper end of its revised guidance. Income in the year-ago quarter was $16.4 million, or 45 cents, including income of $1.6 million related to an accounting change for negative goodwill. Excluding the gain, earnings were 40 cents.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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?"