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Aeropostale strongly finish to fiscal 2007, good sales in Jan
08
Feb '08
Aeropostale Inc, a mall-based specialty retailer of casual and active apparel for young women and men, announced that total net sales for the four-week period ended February 2, 2008 decreased 13.8% to $78.0 million, from $90.4 million for the five-week period ended February 3, 2007. Same store sales for the month increased 4.7%, compared to the corresponding four-week period ended February 3, 2007.

Total sales for the fourth quarter ended February 2, 2008 (13 weeks) increased 15.1% to $583.6 million, from $506.8 million for the fourth quarter ended February 3, 2007 (14 weeks). Same store sales for the fourth quarter increased 9.2%, compared to the corresponding thirteen-week period last year.

Total net sales for Fiscal 2007 (52 weeks) increased 12.0% to $1.583 billion, from $1.413 billion for Fiscal 2006 (53 weeks). Same store sales for Fiscal 2007 increased 3.3%, compared to the corresponding fifty-two week period last year.

The Company noted that management was pleased with Aeropostale's January sales performance, and its strong finish to fiscal 2007. During the month, the Company continued to make progress in clearing through its residual holiday product, while also experiencing positive early reads on its spring merchandise assortment. The Company believes it is well positioned to make a smooth transition into the spring selling season.

The Company also reiterated its fourth quarter earnings guidance of approximately $0.91 per diluted share, including approximately $4.1 million of other income or $0.04 per share relating to a settlement with a former officer of the company. Excluding this settlement, the company continues to expect fourth quarter earnings of approximately $0.87 per share.

The Company believes that the disclosure of same store sales on a pro-forma basis due to the 53rd week in fiscal 2006, which is a non-GAAP financial measure, provides investors useful information to help them better understand the company's expected results.

Aeropostale Inc

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Courtesy: India ITME

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