{"id":972,"date":"2008-07-02T08:05:32","date_gmt":"2008-07-02T16:05:32","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=972"},"modified":"2008-07-02T12:00:44","modified_gmt":"2008-07-02T20:00:44","slug":"teens-cutting-back-at-the-mall","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=972","title":{"rendered":"Teens Cutting Back At The Mall"},"content":{"rendered":"<p>Most of this is old news (especially after all the <strong><a href=\"http:\/\/www.boardistan.com\/?s=conference+call\" target=\"_blank\">conference calls<\/a><\/strong> last month), but hard times in the financial world have impacted teen fashion spending according to a story on <strong><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601103&amp;sid=aULwggbSCTe4&amp;refer=us\" target=\"_blank\">Blumberg.com<\/a><\/strong>.<\/p>\n<blockquote><p>&#8220;There is absolutely a slowdown in teen spending,&#8221; said Holly Guthrie, an analyst at Janney Montgomery Scott LLC in Philadelphia.<\/p>\n<p>Retailers dependent on that group are feeling the pinch. First-quarter net income at <strong>American Eagle<\/strong> plunged 44 percent because of discounting, and the retailer may post its first annual profit drop in five years. . . . At <strong>Gap Inc.&#8217;s Old Navy<\/strong> chain, sales in May were off 25 percent from a year earlier. <strong>Abercrombie&#8217;s<\/strong> same- store sales dropped in five of the past six quarters.<\/p>\n<p>&#8220;While we believe the teen customer has slightly more discretionary income than their parents, they&#8217;re still impacted by the sluggish economy,&#8221; <strong><a href=\"http:\/\/www.boardistan.com\/?s=zumiez\" target=\"_blank\">Zumiez<\/a><\/strong> Inc. Chief Executive Officer <strong>Richard Brooks<\/strong> said on a May 22 earnings call.<\/p>\n<p>Zumiez&#8217;s 309 stores . . . reported its first quarterly profit drop since going public in 2005.<\/p><\/blockquote>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601103&amp;sid=aULwggbSCTe4&amp;refer=us\" target=\"_blank\">Bloomberg<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most of this is old news (especially after all the conference calls last month), but hard times in the financial world have impacted teen fashion spending according to a story on Blumberg.com. &#8220;There is absolutely a slowdown in teen spending,&#8221; said Holly Guthrie, an analyst at Janney Montgomery Scott LLC in Philadelphia. Retailers dependent on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[10,16,12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/972"}],"collection":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=972"}],"version-history":[{"count":0,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/972\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=972"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}