United States Of America : Aeropostale sees record performance in Q1

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Aeropostale sees record performance in Q1

23
May '08

Aeropostale Inc, a mall-based specialty retailer of active and casual apparel for young men and women, reported results for the first quarter ended May 3, 2008. Net income for the first quarter of fiscal 2008 was $17.5 million, or $0.26 per diluted share, compared to net income of $13.8 million, or $0.18 per diluted share, in the first quarter of fiscal 2007.

For the first quarter of fiscal 2008, total net sales increased 22% to $336.3 million, from $275.8 million in the year-ago period. Same store sales for the first quarter increased 10%, compared to an increase of 3% in the year-ago period.

Julian R. Geiger, Chairman and Chief Executive Officer said, "We are thrilled with our record first quarter performance and solid start to fiscal 2008. Our spring merchandise assortment was very well received and Aeropostale continues to gain brand preference among teen customers.

During the quarter we remained committed to striking the right balance between fashion and value, while appropriately managing our inventory levels. As we head into the second quarter and important back-to-school selling season, we believe we are well positioned to continue to capture additional market share."

Second Quarter Guidance:
The Company announced its earnings guidance for the second quarter of fiscal 2008. The Company believes it will achieve earnings in the range $0.22 to $0.24 per diluted share for the second quarter.

Julian R. Geiger, Chairmanand Chief Executive Officer concluded, "We are very pleased with the momentum that we are generating and the strength, vitality and transportability of the Aeropostale brand. We also continue to make progress with our growth initiatives, and we remain excited about the future opportunities to maximize our long-term profitability."

Aeropostale Inc

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