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 21st Jun 2018
ITMA, the trendsetting textile and garment technology platform, will...
Textiles | On 21st Jun 2018
Protectionism is the biggest political factor and threat affecting...
Poojaa Kumar Deepak
Zeven's performance sports apparel is designed for the Indian body type,...
Palod Himson Machines
Fabric processing machines are picking up
Colorjet India Limited
We would like to venture more companies into the Indian market
<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...
Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....
Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...
The Indian market has huge potential in technical textiles, and by far,...
Iago Castro Asensio
RCfil Distribuciones S.L.
Iago Castro Asensio, International Business Manager of RCfil...
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...
"We should not compare India and the West. There are things we do that...
<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...