Second Quarter Performance
For the second quarter of fiscal 2013, net sales decreased 6% to $454.0 million, from $485.3 million in the year ago period. Comparable sales, including the e-commerce channel, for the second quarter decreased 15%, compared to the corresponding 13-week period ended August 4, 2012.
The Company reported a net loss for the second quarter of 2013 of $33.7 million, or $0.43 per diluted share, which included an after-tax charge of approximately $5.2 million, or $0.07 per diluted share, resulting from store asset impairment charges, and an after-tax charge of approximately $1.6 million, or $0.02 per diluted share, as a result of the accounting effect related to retirement features of our stock based compensation plan.
Excluding the aforementioned charges, the Company reported an adjusted net loss of $26.9 million, or $0.34 per diluted share in the second quarter of 2013.
Thomas P. Johnson, Chief Executive Officer, commented, "As previously reported, our second quarter results did not change materially from earlier in the year. Our business was pressured by a challenging teen retail environment with weak traffic trends and high levels of promotional activity. Our results were particularly disappointing given the level of change we have registered with the Aeropostale brand in recent periods."
Net revenues from the Company's e-commerce business for the second quarter of fiscal 2013, including net revenues from the GoJane.com business, which was acquired on November 13, 2012, increased 22% to $39.0 million, from $31.9 million in the year ago period.
Cash Position and Share Repurchase Program
The Company ended the quarter with cash and cash equivalents of $100.3 million and no debt. The Company currently has $104.4 million of availability remaining under its share repurchase program.
Store Growth and Capital Spending
The Company opened 4 Aeropostale and 19 P.S. from Aeropostale stores, and closed 9 Aeropostale stores and 1 P.S. from Aeropostale store during the quarter. For the second quarter, the Company invested $27.7 million in planned capital expenditures.
‘Blending cultures is the true beauty of fashion, where one’s imagination...
We will promote latest technologies at ITMA Barcelona
The S Studio
Ethnicwear market will see an upward trend if uniqueness and quality are...
Germany-based Gmöhling is a leading manufacturer of aluminium containers...
Galvanin has more than 50 years of experience in the production of textile ...
Premier Looms is a leading provider of cutting-edge machinery and...
European School of Business & innovation
Cutting-edge ideas like the Internet of Things and artificial intelligence ...
Thomas Ong P S
Malaysian company NanoTextile Sdn Bhd taps into the potentials of...
UK-based Directa Plus is one of the largest producers and suppliers...
Rajesh Pratap Singh
Rajesh Pratap Singh
<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...
India Boulevard is a San Francisco-based curated fashion marketplace that...
She grew up in the walled city of Old Delhi, completed her studies, and...