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

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Robert Brunner
Devereux

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search