United States Of America : Aeropostale profit jumps in Q4 - Apparel News United States Of America

InquiryNow

Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at mi@fibre2fashion.com in case you need any other additional information.

Name

Company

Phone Number

Country

Comments

Advanced Search

Visit the Most Influential Apparel & Garments Trade Show in Italy. Register Now! | Ad

Home / Knowledge / News / Apparel/Garments / Aeropostale profit jumps in Q4

Aeropostale profit jumps in Q4

12
Mar '10

Aeropostale, Inc. a mall-based specialty retailer of casual apparel for young women and men, reported results for the fourth quarter and fiscal 2009, and provided guidance for the first quarter and full year fiscal 2010. All references to earnings per share have been adjusted for the 3 for 2 common stock split that was effective on March 5, 2010.

Fourth Quarter Performance

Diluted net earnings for the fourth quarter of fiscal 2009 increased 48% to a record $0.99 per share, compared to net earnings of $0.67 per share in the fourth quarter of fiscal 2008. Net income for the fourth quarter of fiscal 2009 increased 42% to $96.6 million, compared to net income of $68.2 million in the fourth quarter of fiscal 2008.

Total net sales for the fourth quarter of fiscal 2009 increased 16% to $801.2 million, from $690.0 million in the year ago period. Same store sales for the fourth quarter increased 9%, compared to a same store sales increase of 6% last year.

Co-Chief Executive Officers Mindy C. Meads and Thomas P. Johnson, said, "We are very pleased with our strong performance for both the fourth quarter and full year. We continued to build upon our brand momentum and experienced record breaking periods for Aeropostale. These results were achieved through the power of our nimble and flexible operating model, combined with the hard work of our entire organization."

Full Fiscal Year Performance

Diluted net earnings for fiscal 2009 increased 54% to a record $2.27 per share, compared to net earnings of $1.47 per share in fiscal 2008. Net income for fiscal 2009 increased 54% to $229.5 million, compared to net income of $149.4 million in fiscal 2008.

Total net sales for fiscal 2009 increased 18% to $2.230 billion, from $1.886 billion in the year ago period. Same store sales for fiscal 2009 increased 10%, compared to a same store sales increase of 8% last year.

First Quarter and Full Year 2010 Guidance

For the first quarter of fiscal 2010 the Company expects earnings in the range of $0.39 to $0.40 per share, an increase of 26%-29% compared to earnings of $0.31 per share for the first quarter of 2009. For the full year, the Company expects net earnings per share growth of approximately 15%.

Co-Chief Executive Officers Mindy C. Meads and Thomas P. Johnson, commented, "We are very excited about our strong start to the new fiscal year. Our spring merchandise assortment is resonating with our customers and we are well positioned to building upon our successes for the remainder of the year. In the coming year we look forward to growing both Aeropostale and P.S. from Aeropostale, maximizing our real estate opportunities, and investing in technology and in our infrastructure. We are very proud of the accomplishments we have made in our business, and we look forward to achieving another record year in fiscal 2010."

E-commerce

Total net sales from the Company's e-commerce business for the fourth quarter of fiscal 2009 increased 42% to $63.9 million, from $45.0 million in the year ago period. Total net sales from the Company's e-commerce business for fiscal 2009 increased 48% to $129.0 million, from $87.1 million in the year ago period.

More Aeropostale Inc News... More Apparel/Garments News - United States Of America...