Shop Talk
Retailers, consumers and prices
Check Out Line: If Hot Topic is any indication, November won’t be so hot
Check out the disappointing November sales results coming in early Wednesday morning.
Teen clothing retailer Hot Topic posted an 11.7 percent drop in November sales at stores open at least a year — worse than its own estimate of a decline of 8 percent to 11 percent.
Analysts, on average, were expecting a drop of 7.8 percent, according to Thomson Reuters data.
In November, which represents the start of the crucial selling season, same-store sales at its namesake stores fell 14.5 percent.
Check Out Line: Losses in the retail world
Check out the quarterly losses reported by J.C. Penney and former teen darling, Abercrombie & Fitch.
Penney reported a net loss of $1 million, or nil per share, compared with a year-earlier profit of $117 million, or 52 cents per share. Analysts on average expected a loss of 1 cent per share, according to Reuters Estimates.
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