Dec '11
Third Quarter Results
Diluted net earnings for the third quarter of fiscal 2011 were $0.30 per diluted share. The Company reported net earnings of $0.63 per diluted share in the third quarter last year. The prior year net earnings included a previously disclosed after-tax charge of approximately $3.9 million, or $0.04 per diluted share, resulting from the related third quarter retirement plan payment to its Chairman and former Chief Executive Officer.
For the third quarter of fiscal 2011, total net sales decreased 1% to $596.5 million, from $602.8 million in the year ago period. Same store sales for the third quarter decreased 9%, compared to essentially flat same store sales last year.
E-Commerce
Total net sales for the Company's e-commerce business for the third quarter of fiscal 2011 increased 19% to $45.7 million, from $38.3 million in the year ago period.
Cash Position and Share Repurchase Program
The Company ended the quarter with cash and cash equivalents of $109.4 million, and no debt. The Company currently has $145.2 million of availability remaining under its share repurchase program.
Store Growth and Capital Spending
The Company opened 7 Aeropostale and 6 P.S. from Aeropostale stores during the quarter. For the third quarter the company incurred $17.6 million in capital expenditures.
Fourth Quarter Guidance
The Company announced its earnings guidance for the fourth quarter of fiscal 2011. The Company expects earnings in the range of $0.35 to $0.38 per diluted share for the fourth quarter. The Company achieved diluted earnings per share of $0.95 in the fourth quarter last year.
Thomas P. Johnson, Chief Executive Officer, commented, "We are making incremental progress on our strategic initiatives by bringing more color and fashion to our merchandise assortment, managing our inventories appropriately and controlling our expenses carefully. However, we are not satisfied with our overall performance, and we remain cautious in our outlook.
“The retail environment remains incredibly promotional with many teen retailers increasing both the depth and breadth of their promotions. Additionally, unemployment remains high and there is continued uncertainty about the overall economic environment. Near-term we are focused on executing our holiday initiatives and long-term we remain committed to improving our financial performance as well as investing in future growth."
Aeropostale Inc. is a mall-based, specialty retailer of casual apparel and accessories, principally targeting 14 to 17 year-old young women and men through its Aeropostale stores and 4 to 12 year-old kids through its P.S. from Aeropostale stores.
Aeropostale Inc
Must ReadView All
Textiles | On 18th Oct 2017
Sutlej Textiles adds American Silk Mills to its portfolio
Sutlej Textiles and Industries Ltd (STIL) has announced the...
Apparel/Garments | On 18th Oct 2017
Arvind to set up mega apparel facility in Gujarat
Arvind Limited, one of India’s largest textile to retail...
Textiles | On 18th Oct 2017
Cotton stocks accumulating everywhere outside of China
Global cotton stocks outside of China are expected to rise by nearly...
Interviews View All
Nitin Bhatia
Trend Arrest
Setting up a brand for online selling is easy, but running the brand is not
Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd
Productivity, creativity and innovation play a vital role in the growth of ...
Amit Jain
Shingora Textiles Ltd
‘In terms of fabric, the fastest growing category for us is a blend of...
<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...
Idealin Fogging Systems has been engaged in designing and manufacturing...
Established in 1956 with a small beginning, Embee today manufactures a...
Kevin Nelson
TissueGen
Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...
Johan Berlin
InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
Mark Paterson
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Bani Batra’s couture wedding collection is inspired by traditional Indian...
Aditi Somani
Aditi Somani
Aditi Somani specialises in luxury fusion wear with international cuts and ...
Pranav Mishra
Huemn
Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...
Recommended
news category
Related Categories:
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
Yes No SkipActive Poll
Do you see sustainability as a route to business growth?
YesTotal Votes: 66
Do you think adopting a sustainable approach will be a profitable move for your business?
Yes No SkipActive Poll
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
YesTotal Votes: 66
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
Yes No SkipActive Poll
Do you think adopting a sustainable approach will be a profitable move for your business?
YesTotal Votes: 66
Thanks for your valuable feedback. Claim your free latest sustainability e-book.
Active Poll
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
YesTotal Votes: 66
E-News Insight
Latest News Update in Your Mail Box.
