Home / Knowledge / News / Apparel/Garments / Sales plunge 15% at Aeropostale in Q3 FY'14
Sales plunge 15% at Aeropostale in Q3 FY'14
05
Dec '13
Aeropostale, Inc., a mall-based specialty retailer of casual apparel for young women and men, reported results for the third quarter of fiscal 2013, and provided guidance for the fourth quarter of fiscal 2013.

For the third quarter of fiscal 2013, net sales decreased 15% to $514.6 million, from $605.9 million in the year ago period. Comparable sales, including the e-commerce channel, for the third quarter decreased 15%, compared to the corresponding 13-week period ended November 3, 2012.

The Company reported a net loss for the third quarter of fiscal 2013 of $25.6 million, or $0.33 per diluted share, which included an after-tax charge of approximately $2.8 million, or $0.04 per diluted share, resulting from store asset impairment charges.

Excluding the aforementioned charges, the Company reported an adjusted net loss of $22.9 million, or $0.29 per diluted share in the third quarter of fiscal 2013.

Net revenue from the Company's e-commerce business for the third quarter of fiscal 2013, including net revenues from the GoJane.com business, which was acquired on November 13, 2012, was flat to the year ago period.

The Company ended the quarter with cash and cash equivalents of $68.0 million and no debt.  The Company currently has $104.4 million of availability remaining under its share repurchase program.

The Company opened three Aeropostale and six P.S. from Aeropostale stores, and closed four Aeropostale stores during the quarter. For the third quarter, the Company invested $23.9 million in planned capital expenditures.

The Company announced earnings guidance for the fourth quarter of fiscal 2013.  The Company expects a net loss in the range of $0.24 to $0.32 per diluted share, compared to adjusted earnings of $0.24 per diluted share in the same period last year. This earnings guidance does not include the impact of any potential store asset impairment charges, and assumes an effective tax rate of approximately 36.0% versus a tax rate of 40.8% last year.

For fiscal 2014, the Company plans to open approximately 11 Aeropostale stores, approximately 5 P.S. from Aeropostale stores, remodel approximately 26 Aeropostale stores, and close approximately 40 to 50 Aeropostale stores. 

The Company expects to invest approximately $35.0 million in fiscal 2014 primarily related to store growth, store remodels and certain infrastructure investments.  This compares to capital expenditures of approximately $82.0 million planned for fiscal 2013.

Aeropostale


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

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...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search