Second Quarter Performance
For the second quarter of fiscal 2013, net sales decreased 6% to $454.0 million, from $485.3 million in the year ago period. Comparable sales, including the e-commerce channel, for the second quarter decreased 15%, compared to the corresponding 13-week period ended August 4, 2012.
The Company reported a net loss for the second quarter of 2013 of $33.7 million, or $0.43 per diluted share, which included an after-tax charge of approximately $5.2 million, or $0.07 per diluted share, resulting from store asset impairment charges, and an after-tax charge of approximately $1.6 million, or $0.02 per diluted share, as a result of the accounting effect related to retirement features of our stock based compensation plan.
Excluding the aforementioned charges, the Company reported an adjusted net loss of $26.9 million, or $0.34 per diluted share in the second quarter of 2013.
Thomas P. Johnson, Chief Executive Officer, commented, "As previously reported, our second quarter results did not change materially from earlier in the year. Our business was pressured by a challenging teen retail environment with weak traffic trends and high levels of promotional activity. Our results were particularly disappointing given the level of change we have registered with the Aeropostale brand in recent periods."
Net revenues from the Company's e-commerce business for the second quarter of fiscal 2013, including net revenues from the GoJane.com business, which was acquired on November 13, 2012, increased 22% to $39.0 million, from $31.9 million in the year ago period.
Cash Position and Share Repurchase Program
The Company ended the quarter with cash and cash equivalents of $100.3 million and no debt. The Company currently has $104.4 million of availability remaining under its share repurchase program.
Store Growth and Capital Spending
The Company opened 4 Aeropostale and 19 P.S. from Aeropostale stores, and closed 9 Aeropostale stores and 1 P.S. from Aeropostale store during the quarter. For the second quarter, the Company invested $27.7 million in planned capital expenditures.
Textiles | On 25th Mar 2017
The implementation of the Goods and Services Tax (GST) bill in India...
Textiles | On 25th Mar 2017
Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...
DLF Emporio and DLF Promenade
‘Each event and promotion is planned out keeping in mind the business of...
Fashion shows are also encouraging and highlighting sustainable fashion
‘The share of kidswear segment in the online sector is still small in...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Nature Works LLC
Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...
Larry L Kinn
Larry L Kinn, Senior Vice President - Operations Americas of Suominen...
Apparel/Garments | On 25th Mar 2017