Tween Brands reduces Q4 forecast
11/01/2007
Based on net sales results for the ten-week period ending in the first week of January, Ohio-based specialty retailer of sportswear for ‘tweens’ (aged 7 to 14) Tween Brands Inc. is now expecting a comparable store sales increase for the fourth quarter ending beginning of February of 3%-4%, compared with the mid single digit increase previously anticipated.
The company said that it has revised its outlook due to flat December comparable store sales and lower merchandise margins at its Limited Too outlets, reflecting a higher level of markdowns made necessary to clear seasonal apparel from inventory. The company added that its Justice division—which sells sports and casual wear for girls—is expected to achieve operating results for the fourth quarter in line with its earlier estimates, including a comparable store sales increase of 20% or better.
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