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Aeropostale's knits & denim perform better in July

04
Aug '05
New York based Aeropostale Inc announced the total net sales for the four-week period ended July 30, 2005 increased 18.0% to $83.9 million, compared to $71.1 million for the four-week period ended July 29, 2004. The company's comparable store sales decreased 4.2% for the month, versus a comparable store sales increase of 13.8% in the year ago period.

For the quarter ended July 30, 2005, total net sales have increased 19.5% to $232.8 million, compared to $194.9 million in the quarter ended July 29, 2004. Comparable store sales for the second quarter have decreased 2.2%, compared to an increase of 20.0% in the year ago quarter.

Year-to-date, total net sales have increased 22.6% to $444.4 million, compared to $362.5 million in the year-ago period. Year to date, comparable store sales have increased 0.9%, compared to an increase of 19.5% in the year-ago period.

Julian R. Geiger, Chairman and Chief Executive Officer said, "They are disappointed by their July results, which were below both their sales and margin plan. While their 'wear now' knits and denim categories are performing well, the initial performance of certain back to school merchandise including sweaters, fleece and corduroy pants have been significantly below their expectations. As a result, they will be lowering their guidance for the second quarter and will be assessing the impact of these current trends on the third quarter."

The company also updated it guidance today. Based onthe company's lower than anticipated July sales, the company now believes it will achieve earnings per share of $0.12 - $0.13 per diluted share for the second quarter versus its previously issued guidance of $0.16-$0.19 per diluted share.


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