Teen retailer Aeropostale Inc. said Thursday that revenue at stores open at least a year fell 9 percent in the third quarter, compared to essentially flat sales in the same period a year ago.
Even so, Aeropostale raised its predictions for third-quarter earnings, citing careful inventory management and other steps meant to improve profit margins. The company said it now expects to earn 27 to 28 cents per share in the third quarter, up from the 9 to 15 cents it predicted in August. Analysts polled by FactSet are currently predicting a 12-cent gain.
Revenue at stores open at least a year is a key measure of a retailer's health because it excludes the impact of recently opened or closed stores. Overall revenue, which does include that impact, fell 1 percent to $596.5 million.