Reuters: Global Markets: Aeropostale shares soar as Sycamore takes 8 percent stake

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Aeropostale shares soar as Sycamore takes 8 percent stake Sep 17th 2013, 14:15 Tue Sep 17, 2013 10:15am EDT (Reuters) - Aeropostale Inc (ARO.N) shares rose as much as 19.5 percent on Tuesday after private equity firm Sycamore Partners disclosed in a regulatory filing that it had taken an 8 percent stake in the struggling teen apparel retailer. Shares were trading at $10.06 in mid-morning, after closing at $8.61 on Monday; earlier in the session, they reached as high as $10.29. Aeropostale last month reported a decline in second-quarter sales and forecast a deep third quarter loss, pointing to a highly promotional environment that has led it to cut prices. Between August 23 and last Wednesday, a Sycamore affiliate bought 6.25 million shares for prices ranging from $8.2723 to $8.7564 a share, according to a filing with the U.S. Securities and Exchange Commission. (Reporting by Phil Wahba in New York; Editing by Gerald E. McCormick)

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