Recently released data shows that the sales of major U.S. clothing retailers in February 2009 generally continued to decline compared with the same period in 2008. Among them, Gap’s single store sales fell by 12%, and overall sales fell by 12%; Abercrombie & Fitch’s single store sales fell by 30%, and overall sales fell by 24%; Aeropostale’s single store sales increased by 11%, and overall sales increased by 23%; Limited Brands’ single store sales fell by 7% , overall sales fell 11%.
In addition, Liz Claiborne, a well-known clothing retail company, announced a net loss of US$693 million in the fourth quarter of 2008, a loss of US$8.85 per share. On March 4, the company’s stock price fell to US$2.5. The company predicts that single store sales may drop by 15-25% from 2009 to the third quarter.
