Home / Knowledge / News / Apparel/Garments / Aeropostale Q1'FY14 ecommerce revenue slips 18% to $34.3mn
Aeropostale Q1'FY14 ecommerce revenue slips 18% to $34.3mn
23
May '14
Aeropostale, Inc., a mall-based specialty retailer of casual apparel for young women and men, reported results for the first quarter of fiscal 2014, and provided guidance for the second quarter of fiscal 2014.
 
First Quarter Performance
For the first quarter of fiscal 2014, net sales decreased 12% to $395.9 million, from $452.3 million in the year ago period. Comparable sales, including the e-commerce channel, for the first quarter decreased 13%, compared to a decrease of 14% for the corresponding 13-week period ended May 4, 2013.
 
Net revenues from the Company's e-commerce business for the first quarter of fiscal 2014 decreased 18% to $34.3 million, from $41.9 million in the year ago period. 
 
The Company reported a net loss for the first quarter of fiscal 2014 of $76.8 million, or $0.98 per diluted share, which included after-tax charges of $31.6 million, or $0.40 per diluted share, related to store asset impairment charges, the majority of which is recorded in restructuring charges, $3.8 million, or $0.05 per share for other restructuring charges, and a charge of $0.3 million, or $0.01 per diluted share in other lease exit and consulting costs.  The Company reported a net loss of $12.2 million, or $0.16 per diluted share, for the first quarter of 2013.
 
Excluding the aforementioned charges, the Company reported an adjusted net loss of $41.1 million, or $0.52 per diluted share in the first quarter of fiscal 2014 (see Exhibit C).  This compares to the Company's previously issued guidance for operating losses in the range of $64 million to $68 million, which translated to a net loss in the range of $0.70 to $0.75 per diluted share, which did not include the aforementioned charges.
 
Thomas P. Johnson, Chief Executive Officer, commented, "As other retailers experienced, the macroeconomic environment was challenging during the first quarter with aggressive promotions, lower mall traffic, and unseasonable weather.  While our overall results were disappointing, we were able to exceed guidance and end the quarter with inventories well-controlled.  
 
“Additionally, at the close of the quarter, we took additional actions to build on our turnaround efforts from the past year, restructuring our P.S. from Aeropostale business and expanding our expense savings program.  We remain focused on strengthening our company operationally and financially as we continue to implement our strategies to reposition the Aeropostale brand."
 
The Company ended the quarter with cash and cash equivalents of $24.5 million and $8.5 million in short term borrowings.
 
The Company closed 18 Aeropostale stores during the quarter and one P.S. from Aeropostale store. For the first quarter, the Company invested $8.0 million in planned capital expenditures.
 
Click here to view full results.
 

Aeropostale


Must ReadView All

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

From left: Tania Polonnowita Wettimuny, MD, Hellmann Sri Lanka; Bart de Vries, Global COO Air & Sea Hellmann; Deshamanya Mahesh Amalean, Chairman, MAS Holdings; & Shirendra Lawrence, COO, MAS Holdings

Textiles | On 20th Feb 2018

Hellmann and MAS form joint venture HMSC

Hellmann Worldwide Logistics and MAS Holdings have formed Hellmann...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Mohammad Hassan
Biax Fiberfilm

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner
Devereux

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

Aditi Somani
Aditi Somani

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

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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