NEW YORK (AP) – Being a teen can be tough, but catering to one is even more difficult.
Teen retailers are learning that lesson the hard way this holiday season.
The longtime CEO of Abercrombie & Fitch on Tuesday abruptly retired just a week after the retailer posted an 11.5 percent quarterly sales drop and slashed its annual profit forecast. And American Eagle and Aeropostale gave dismal forecasts for the quarter that includes the holiday shopping season after each posted weak sales for the fall.
Teen retailers are facing ho-hum results at a time when overall U.S. retail sales are up 5.1 percent over the past 12 months, the Commerce Department said Thursday.
It’s a major shift for teen retailers. They became popular in the last decade for their logo tees and trendy jeans, which became a high school uniform of sorts. But since the recession, these stores have been losing favor with their core demographic.
