Home / Knowledge / News / Apparel/Garments / Sales jump 18.9% at rue21 in Q1 FY'12
Sales jump 18.9% at rue21 in Q1 FY'12
25
May '12
rue21, inc. announced its financial results for the first quarter ended April 28, 2012.

First Quarter Results:
• Net sales increased 18.9% to $205.6 million from $172.9 million. Comparable store sales for the quarter were up 1.7%, on top of a 5.2% increase for the first quarter of fiscal 2011.
• Gross margin was 38.8% compared to 38.9% in the first quarter of fiscal 2011.
• Selling, general and administrative expenses were $53.8 million or 26.2% of net sales, compared to $45.4 million or 26.2% of net sales.
• The Company opened 40 new stores and converted an additional 7 stores to the larger rue21 etc! format compared to opening 39 stores and converting 12 stores to the etc! format in the first quarter of fiscal 2011.
• Net income increased 20.6% to $11.6 million from $9.6 million.
• The Company generated $9.9 million in cash as compared to $5.5 million in the first quarter of 2011. Cash and short term investments were $81.8 million as of April 28, 2012.
• Diluted earnings per share were $0.46 compared to diluted earnings per share of $0.38 in the first quarter of fiscal 2011.

Bob Fisch, rue21's President and CEO, stated: "We were pleased to deliver strong results to our shareholders in the first quarter of fiscal 2012, and are looking forward to continuing our momentum into the second quarter and the remainder of the year.

“We believe rue is well positioned to capitalize on the current color and fashion trends in the industry. In addition to seeing comparable store sales increases on top of strong performance last year, our new stores continue to provide consistent and predictable sales and profit growth.

“Through our real estate expansion we are gaining market share in small and mid-size markets around the country, and we believe rue is rapidly becoming a favorite retail destination for both guys and girls who want the latest looks at every day great value."

Outlook:
For fiscal 2012, the Company is raising its prior guidance based on first quarter results and expects diluted earnings per share to be in the range of $1.76 to $1.81 versus its previous guidance of $1.74 to $1.79, and as compared to $1.55 in fiscal 2011.
This incorporates 25.4 million average diluted shares expected for fiscal 2012 as compared to 25.1 million average diluted shares in fiscal 2011.

For the second quarter of fiscal 2012, the Company currently expects low single digit comparable store sales. Diluted earnings per share for the second quarter are expected to be in the range of $0.32 to $0.34.

rue21 is a leading specialty apparel retailer offering exclusive branded merchandise and the newest trends at a great value. rue21 currently operates 809 stores in 46 states.

rue21 inc

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search