It’s that time again – the back to school season. And while some kids dread the return, the start of the new school year couldn’t have come any sooner for clothing retailers. In particular, The Gap Inc and American Eagle Outfitters posted August sales that beat estimates, as consumers hurried to get their children classroom ready.
Gap’s U.S. same-store sales (stores open for at least on year) fell 3% vs analysts expectations for a 6.7% decline. Similarly, American Eagle Outfitters comparable-store sales topped estimates by 1.9%, declining 8% in the month.
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