Sales at U.S. stores open at least a year rose 3 percent at Aeropostale, the U.S. teen retailer with more than 900 stores, trailing the 14 percent average of analysts' estimates compiled by Retail Metrics Inc. Comparable-store sales at American Eagle fell 5 percent, missing a 2 percent projected gain. Sales at Limited, the owner of the Victoria's Secret chain, dropped 4 percent, more than the 3.1 percent estimated decline.

October is a transitional month between the two largest selling seasons of the year: back-to-school and Christmas. U.S. retailers use the month to clear out fall merchandise and make room for holiday floor sets, according to Ken Perkins, president of Swampscott, Massachusetts-based Retail Metrics. "The teen apparel space was the biggest disappointment," Perkins said today in a telephone interview.

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Aeropostale, based in New York, fell $5.21, or 14 percent, to $32.82 at 11:29 a.m. in New York Stock Exchange composite trading. Pittsburgh-based American Eagle dropped $2.02, or 11 percent, to $15.84. Limited, of Columbus, Ohio, lost 8 cents to $17.70. Some department stores fared better than the specialty retailers. TJX Cos. and Ross Stores Inc., which both sell designer goods at discounted prices, reported sales gains. Chains including Saks Inc. and Nordstrom Inc. reported sales that topped estimates.