Year-to-Date net income up at apparel retailer rue21

07 Dec '11

4 min read

Mr. Fisch added, "We have continued to grow our top and bottom line through strong new store openings, and are encouraged by the success of our 2011 new stores and the real estate opportunities we see ahead of us. We are more confident than ever that we can continue to meet our long-term earnings targets by executing on our unique real estate strategy, consistently delivering fashion at every day great value to our customers, and always focusing on running this business for the long-term good of the brand and the concept."

Outlook:
For fiscal 2011, the Company expects diluted earnings per share to be in the range of $1.51 to $1.54 as compared to $1.21 in fiscal 2010. This incorporates 25.1 million average diluted shares expected for fiscal 2011 as compared to 25.0 million average diluted shares in fiscal 2010. For the fourth quarter, the Company currently expects total sales growth in the range of 19% to 21%.

Diluted earnings per share for the fourth quarter are expected to be in the range of $0.47 to $0.50 based on 25.2 million average diluted shares expected for the fourth quarter as compared to 25.0 million average diluted shares for the fourth quarter of fiscal 2010. The Company currently expects flat comparable store sales for the fourth quarter of fiscal 2011.

rue21 is a leading specialty apparel retailer offering exclusive branded merchandise and the newest trends at a great value. rue21 currently operates 757 stores in 46 states.

rue21 inc

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