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Net sales up by 21% at clothing retailer Aeropostale
22 May '09
2 min read
Aeropostale Inc, a mall-based specialty retailer of casual apparel for young women and men, reported results for the first quarter ended May 2, 2009.
Net income for the first quarter of fiscal 2009 was $31.7 million, or $0.47 per diluted share, compared to net income of $17.5 million, or $0.26 per diluted share, in the first quarter of fiscal 2008. Results for the first quarter include pre-tax charges of approximately $2.7 million, or $0.02 per diluted share, related to the closing of the Company's Jimmy'Z concept.
For the first quarter of fiscal 2009, total net sales increased 21% to $408.0 million, from $336.3 million in the year-ago period. Same store sales for the first quarter increased 11%, compared to an increase of 10% in the year-ago period.
Total net revenue from the Company's e-commerce business for the first quarter of fiscal 2009 increased 74% to $16.7 million, from $9.6 million for the first quarter of fiscal 2008.
Julian R. Geiger, Chairman and Chief Executive Officer, said, "The last three months, like the ten consecutive quarters that preceded it, was a period of record sales and record earnings for Aeropostale. We all know these results are extraordinary given the macro-economic climate in which we are operating. Clearly, we are proud of our organization's determination to succeed and its dedication to the principles that have made Aeropostale a destination lifestyle brand."
Second Quarter Guidance:
The Company announced its earnings guidance for the second quarter of fiscal 2009. The Company believes it will achieve earnings in the range $0.43 to $0.45 per diluted share for the second quarter, compared to earnings of $0.31 per share in the second quarter last year. This guidance includes pre-tax charges of approximately $3.0 million, or $0.03 per diluted share, related to the closing of the Jimmy'Z concept.
Julian R. Geiger, Chairman and Chief Executive Officer, concluded, "It is exciting to see that a new generation of teen customers has identified Aeropostale as one of their top brands of choice and has embraced it as its own. We are fully committed to maintaining and building this leadership position by listening to, and respecting, our customers every day."
Net income for the first quarter of fiscal 2009 was $31.7 million, or $0.47 per diluted share, compared to net income of $17.5 million, or $0.26 per diluted share, in the first quarter of fiscal 2008. Results for the first quarter include pre-tax charges of approximately $2.7 million, or $0.02 per diluted share, related to the closing of the Company's Jimmy'Z concept.
For the first quarter of fiscal 2009, total net sales increased 21% to $408.0 million, from $336.3 million in the year-ago period. Same store sales for the first quarter increased 11%, compared to an increase of 10% in the year-ago period.
Total net revenue from the Company's e-commerce business for the first quarter of fiscal 2009 increased 74% to $16.7 million, from $9.6 million for the first quarter of fiscal 2008.
Julian R. Geiger, Chairman and Chief Executive Officer, said, "The last three months, like the ten consecutive quarters that preceded it, was a period of record sales and record earnings for Aeropostale. We all know these results are extraordinary given the macro-economic climate in which we are operating. Clearly, we are proud of our organization's determination to succeed and its dedication to the principles that have made Aeropostale a destination lifestyle brand."
Second Quarter Guidance:
The Company announced its earnings guidance for the second quarter of fiscal 2009. The Company believes it will achieve earnings in the range $0.43 to $0.45 per diluted share for the second quarter, compared to earnings of $0.31 per share in the second quarter last year. This guidance includes pre-tax charges of approximately $3.0 million, or $0.03 per diluted share, related to the closing of the Jimmy'Z concept.
Julian R. Geiger, Chairman and Chief Executive Officer, concluded, "It is exciting to see that a new generation of teen customers has identified Aeropostale as one of their top brands of choice and has embraced it as its own. We are fully committed to maintaining and building this leadership position by listening to, and respecting, our customers every day."
Aeropostale Inc
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