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 Aug 2017

US govt initiates Section 301 investigation of China

The US government has initiated an investigation of China under...

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Pakistan minister seeks ideas to boost textile sector

The Pakistani Government will come out with short- and long-term...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Jay Ramrakhiani
Occasions Elegance Wear

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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