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Aeropostale same store sales increase of 3.0%
12 Nov '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 four-week period ended November 3, 2007 increased 17.3% to $116.4 million, from $99.2 million for the four-week period ended October 28, 2006.
Due to the 53rd week in fiscal 2006, same stores for the month are compared to the four-week period ended November 4, 2006. On this basis, same store sales increased 3.0%.
For the third quarter of fiscal 2007, total net sales increased 7.0% to $412.6 million, from $385.5 million in the third quarter of fiscal 2006. For the third quarter, same store sales increased 1.9% compared to the corresponding period ended November 4, 2006.
Year-to-date, total net sales increased 10.3% to $999.6 million, from $906.4 million in the year-ago period. Year-to-date, same store sales increased 0.1% compared to the corresponding period ended November 4, 2006.
Julian R. Geiger, Chairman and Chief Executive Officer said, "During the month we made a smooth transition into our holiday floorset and we continued to manage both the composition and level of our inventories.
As a result, we experienced gross margin improvement over last year. The initial reaction to our holiday merchandise assortment has been positive and we remain focused on executing our strategies for the peak holiday selling season."
The Company also raised guidance for the third quarter. The Company now expects third quarter earnings in the range of $0.46 to $0.47 per diluted share, versus its previously issued guidance of $0.43 to $0.45 per diluted share. This compares to earnings of $0.41 per diluted share in the third quarter of 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.
Due to the 53rd week in fiscal 2006, same stores for the month are compared to the four-week period ended November 4, 2006. On this basis, same store sales increased 3.0%.
For the third quarter of fiscal 2007, total net sales increased 7.0% to $412.6 million, from $385.5 million in the third quarter of fiscal 2006. For the third quarter, same store sales increased 1.9% compared to the corresponding period ended November 4, 2006.
Year-to-date, total net sales increased 10.3% to $999.6 million, from $906.4 million in the year-ago period. Year-to-date, same store sales increased 0.1% compared to the corresponding period ended November 4, 2006.
Julian R. Geiger, Chairman and Chief Executive Officer said, "During the month we made a smooth transition into our holiday floorset and we continued to manage both the composition and level of our inventories.
As a result, we experienced gross margin improvement over last year. The initial reaction to our holiday merchandise assortment has been positive and we remain focused on executing our strategies for the peak holiday selling season."
The Company also raised guidance for the third quarter. The Company now expects third quarter earnings in the range of $0.46 to $0.47 per diluted share, versus its previously issued guidance of $0.43 to $0.45 per diluted share. This compares to earnings of $0.41 per diluted share in the third quarter of 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.
Aeropostale Inc
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