Pursuits
Aeropostale Drops After Forecasting Wider Quarterly Loss
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Aeropostale Inc., a retail chain that sells teen and children’s apparel, tumbled 20 percent after mounting losses and a $150 million loan raised concerns that the company is running out of cash.
The first-quarter loss will be 70 cents to 75 cents a share, New York-based Aeropostale said yesterday in a statement. Analysts had projected a loss of 17 cents on average, according to data compiled by Bloomberg. The company also said it has entered a strategic partnership with Sycamore Partners, which will provide the $150 million loan.