This is a follow up to my 3/10/09 and 4/24/09 posts on this subject.
Same store sales in November 2009 reported by retailers specializing in clothing and accessories for teenagers showed a 7.8% yr2yr decline, making it the worst performing retail sector.
Even Hot Topic, a former high flier, had a double digit drop, while Abercrombie & Fitch had its 19th straight month of reduced sales revenues.
The Bureau of Labor Statistics puts the current teenage unemployment rate at 26%. With fewer jobs and mommy and daddy being more careful with their dollars, teenagers have a lot less money to spend.
See the article by Stephanie Rosenbaum, “Recession? Teenagers Get It and Are Cutting Back” on NYTIMES.com, December 26, 2009.
