Home / Knowledge / News / Apparel/Garments / Aeropostale to close Jimmy'Z Concept stores in Q2
Aeropostale to close Jimmy'Z Concept stores in Q2
24
Feb '09
Aeropostale Inc announced that it will close its Jimmy'Z concept, including its 11 Jimmy'Z stores in the second quarter of fiscal 2009.

The decision to take this action resulted from a comprehensive review and evaluation of the current macro-economic condition and the performance of the concept. Company management determined that discontinuing the business would enable the organization to focus on the growth within the core Aeropostale business and the roll out of the Company's next U.S. retail concept which will target a younger demographic.

Julian R. Geiger said, "We sincerely thank everyone in the Jimmy'Z organization for their hard work, commitment and dedication to the brand over the past few years. We believe, however, that discontinuing the Jimmy'Z concept will enable us to focus on businesses which align with our core competencies, and generate greater long-term shareholder value."

During the first half of fiscal 2009, the Company expects to incur approximately $5.0 million of additional pre-tax costs related to lease terminations, inventory liquidation, and employee retention and severance obligations. The Company expects an ongoing financial benefit from the elimination of Jimmy'Z annualized operating losses of approximately $8.0 million pre-tax or $0.07 per share.

Aeropostale Inc


Must ReadView All

Textiles | On 26th Jun 2017

US initiates probe into PSF imported from 5 nations

The department of commerce of the US has initiated investigations for ...

Textiles | On 26th Jun 2017

Braskem invests in polypropylene production facility in US

The Board of Directors of Braskem, one of the largest producer of...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Rupa Sood and Sharan Apparao
Nayaab

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

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

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