Aeropostale shares also plunged about 18%. Brean Murray analysts in a note slashed their earnings estimates “after Aeropostale materially reduced any hope of a near-term turnaround by providing second-quarter earnings guidance materially below even our weak projections.” The company “continues to struggle with fashion misses, tough competition and bloated inventories; with no near-term relief in sight, the competitive environment remaining intense and costing pressures escalating, we see no reason to become more aggressive in Aeropostale.”
Yet Barnes & Noble (NYSE: BKS) was a bright spot in retail ETFs. The stock rallied 30% after Liberty Media Corp. made a $1 billion bid for the company.
PowerShares Dynamic Retail (NYSEArca: PMR)
