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rue21 reports strong results for third quarter
09
Dec '09
Bob Fisch, rue21's Chairman and CEO, stated: "We are very pleased to report strong results for our third quarter, and also to be able to continue and even improve on our trend from the first half of the year. Looking forward, we are focused on a path of significant total growth; and while much of our effort today is being placed on making sure we have a very successful Holiday season, we are also working to ensure that we open 100 stores in 2010 and continue the store growth pattern we have been on for the past several years."

Mr. Fisch continued: "I want to thank the entire rue21 team for their hard work and effort. We continue to raise the bar and take the company to the next level, in both business actions as well as having fun in what we do as a team at rue."

Highlights for the thirteen weeks ended October 31, 2009:

• Net sales for the third quarter ended October 31, 2009 increased 40.7% to $137.1 million, compared to $97.5 million in the third quarter of 2008 ended November 1, 2008.
• Comparable-store sales for the third quarter of fiscal 2009 increased by 13.5% over the third quarter of fiscal 2008.
• Operating margin increased to 7.3% of net sales from 5.2% of net sales a year ago, and net income was $6.0 million versus $2.9 million of net income in the third quarter of fiscal 2008.
• Diluted earnings per share were $0.26 on net income of $6.0 million compared to diluted earnings per share of $0.13 on net income of $2.9 million in the third quarter of fiscal 2008.
• During the third quarter of fiscal 2009 the Company opened 29 stores and ended with 534 stores.

Highlights for the thirty-nine weeks ended October 31, 2009:

• Net sales increased 36.0% to $370.2 million from $272.3 million for the same period a year ago, which ended November 1, 2008.
• Comparable-store sales for the period increased 7.4% from the comparable period in 2008.
• Operating margin increased to 6.5% of net sales from 5.3% of net sales a year ago, and net income was $14.3 million versus $8.0 million for the same period in 2008.
• Diluted earnings per share were $0.63 on net income of $14.3 million compared to diluted earnings per share of $0.35 on net income of $8.0 million for the comparable period in fiscal 2008.
• For the thirty-nine weeks ended October 31, 2009, the Company opened 85 stores and closed none.

rue21 inc


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