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Aeropostale reports June sales rise 23.7%

07
Jul '05
Fast growing premier mall-based young men's & women's casual & active apparel retailer Aeropostale Inc announced total net sales for the five-week period ended July 2, 2005 increased 23.9% to $86.2 million, compared to $69.6 million for the five-week period ended July 3, 2004. The company's comparable store sales increased 2.0% for the month, versus a comparable store sales increase of 21.3% in the year ago period.

Fiscal year to date, total net sales have increased 23.7% to $360.5 million, compared to $291.4 million in the year-ago period. Fiscal year to date, comparable store sales have increased 2.2%, compared to 20.8% in the year-ago period.

Julian R. Geiger, Chairman and Chief Executive Officer said, "Our primary objective for the month was to clear through our spring/summer merchandise and position ourselves appropriately for the back to school selling season. In order to achieve this objective, we were more promotional than initially planned.

While we are pleased with our total sales and transactions for the month, our gross margins for the month were significantly below last year. Our promotional stance has since normalized and we are comfortable with both the level and composition of our inventory as we head into the key back to school selling season."

The company also updated it guidance today. Based on the company's increased promotional activity during the month, the company now believes it will achieve earnings per share forthe second quarter between $0.16 - $0.19 per diluted share versus its previously issued guidance of $0.20-$0.23 per diluted share. The company achieved earnings per share of $0.19 in the second quarter of last year.

The company provides customers with a focused selection of high-quality, active-oriented, fashion basic merchandise at compelling values.

Aeropostale maintains control over its proprietary brands by designing, marketing and selling all of its own merchandise. Aeropostale products are currently purchased only in its stores, on-line thorough its website (www.aeropostale.com) or at organized sales events at college campuses.

Aeropostale


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