Aeropostale reiterates Q3 guidance of $0.43 to $0.45 per share
12 Oct '07
2 min read
Aeropostale Inc a mall-based specialty retailer of casual and active apparel for young women and men announced that total net sales for the five-week period ended October 6, 2007 increased 0.7% to $127.9 million, from $127.1 million for the five-week period ended September 30, 2006.
Due to the 53rd week in fiscal 2006, same stores for the month are compared to the five-week period ended October 7, 2006. On this basis, same store sales increased 1.3%.
Year-to-date, total net sales increased 9.4% to $883.2 million, from $807.2 million in the year-ago period. Year-to-date, same store sales decreased 0.2%, compared to the corresponding period ended October 7, 2006.
Julian R. Geiger, Chairman and Chief Executive Officer said, "During the month we continued to execute our strategies for the back to school selling season and ended the month with an improvement in our gross margins over last year. Our inventory levels remain well controlled and we are focused on a smooth transition into the holiday selling season."
The company is also reiterating its third quarter earnings guidance of $0.43 to $0.45 per share, versus $0.41 per share last year.
The company believes that the disclosure of same store sales on a pro-forma basis due to the 53rd week in fiscal 2006, which is a non-GAAP financial measure, provides investors useful information to help them better understand the company's expected results.
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