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Aeropostale Q1 profit down

19
May '06
Aeropostale Inc, a mall-based specialty retailer of active and casual apparel for the teen market, reported results for the first quarter ended April 29th 2006.

Net income for the first quarter of fiscal 2006 was $8.4 million, or $0.15 per diluted share, including the $0.01 per share charge related to the expensing of stock options. This compares to net income of $8.6 million or $0.15 per diluted share in the first quarter of fiscal 2005.

Net sales for the first quarter of fiscal 2006 increased 16.4 percent to $246.3 million, versus net sales of $211.7 million in the first quarter of last year. Comparable store sales for the first quarter decreased 2.9 percent, versus an increase of 4.4 percent last year.

Julian Geiger, Chairman and CEO said, "We achieved our plan during the quarter by generating increases in our merchandise margins and in our average unit retails. Consistent with our operating strategy, we carefully controlled both the level of our inventories and the depth of our promotions. In addition, we have improved the balance of our merchandise assortment, integrating more fashion forward looks into our mix. We think that this approach will enable us to capitalize on our future opportunities."

The company announced its earnings guidance for the second quarter of fiscal 2006. The company believes it will achieve earnings in the range of $0.15 - $0.17 per diluted share, including the $0.01 per share charge related to the expensing of stock options. The company expects a flat to low-single digit comparable store sales increase in the second quarter of fiscal 2006.

Aeropostale Inc is a mall-based, specialty retailer of casual apparel and accessories, principally targeting 14 to 17 year-old young women and men. It provides customers with a focused selection of high-quality, active-oriented, fashion and fashion basic merchandise at compelling values.

Aeropostale Inc


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