April sales at 30 chains rose 0.8 percent, less than the 2 percent projected gain, researcher Retail Metrics Inc. said. Abercrombie’s sales at stores open at least year dropped 7 percent, more than the 1.8 percent decline projected by analysts. Aeropostale’s sales fell 5 percent, also trailing the average of analysts’ estimates compiled by Retail Metrics.
An earlier Easter this year pushed more holiday-related shopping into the previous month, tempering April spending. Sales growth should improve in May and accelerate with back-to- school purchases later this year as consumers emerge from the worst economic slump since the Great Depression, according to Howard Tubin, an analyst at RBC Capital Markets in New York.
“I don’t think it’s a sign of what’s to come,” said Tubin, referring to the April figures reported by retailers today. “There’s been a renewed interest in fashion by the consumer.”
By Allison Abell Schwartz and Matt Townsend Bloomberg.com
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