Business Insider: The retailer’s shares plummeted more than 13% this morning.
Business Insider: The retailer’s shares plummeted more than 13% this morning.
The retailer made $911.4 million in the quarter compared to $1.033 billion over the same period last year.
“We are clearly disappointed with our results for the third quarter,” CEO Mike Jeffries said in a statement. “Continued weak store traffic was the primary contributor to the weak sales trend, particularly in Europe, where the environment there showed signs of further slowing. In addition, the decline in sales of heavy logo product weighed on the sales trend as we continued to reduce that element of our assortment in response to changing consumer preferences.”
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