Check out Wet Seal’s falling September sales. Another harbinger of a tough month for retailers?
 
The teen apparel retailer on Wednesday  said sales at stores open at least a year fell 7.5 to 8.5 percent in September, far worse than the 1 percent to 3 percent it previously announced. The company also forecast a 2 percent to 6 percent drop in October sales.
 
Fewer people were shopping at its stores and the company had to resort to more discounts than expected at both the Wet Seal and Arden B divisions, the company said. Wet Seal also cut its third-quarter earnings forecast.
 
“We believe the company will not be the only one forced to reduce guidance after what is turning out to be a very poor September,” Eric Beder, an analyst with Brean Murray Carret & Co, said.
 
Concerns that September would be dicey for retailers were raised on Sept. 24, when discounter Target said its same-store sales in September would only be up 1.5 percent to 2.5 percent, not the 4 percent to 6 percent it originally forecast.
 
With consumers worried about a sluggish job market, falling home prices and rising costs for food and gas, forecasts for the upcoming holiday season show only modest sales increases. September is an important sales month because back-to-school sales are seen as an indicator of how well the holiday season will go.
 
Most retailers will report September sales on Oct. 11.
 
Also in the basket: 

Target’s designs on a new market niche (WSJ)
 
Family Dollar fourth-quarter profit rises
 
Wendy’s same store sales rise
 
Constellation Brands quarterly profit rises
 
Citizens to buy watchmaker Bulova from Loews