News Flash

Aeropostale reports net sales up 26.3% for Q1

23 May '05

2 min read

A mall-based active & casual apparel retailer Aeropostale Inc reported record results for the first quarter ended April 30, 2005.

Net income for the first quarter of fiscal 2005 was $8.6 million or $0.15 per diluted share, representing an increase of 36.4% over net income of $6.3 million or $0.11 per diluted share in the first quarter of last year.

Net sales for the first quarter of fiscal 2005 increased 26.3% to $211.7 million versus net sales of $167.7 million in the first quarter of last year. Comparable store sales for the first quarter increased 4.4% versus an increase of 18.9% last year.

Julian R. Geiger, Chairman and Chief Executive Officer said, "We are pleased to have met our earnings guidance for the quarter, particularly in light of our lower than anticipated sales for the quarter. While mall traffic appears to have diminished since February, we remain confident about our opportunities for back to school. Our primary goal during the second quarter is to clear seasonal goods on a strategic and timely basis and position ourselves appropriately for this key selling season."

Second Quarter Guidance:

The company announced its earnings guidance for the second quarter of fiscal 2005. The company noted that it expects to achieve second quarter earnings in the range of $0.20 to $0.23 per diluted share based on a low single digit comparable store sales increase and 35 new stores. The company reported earnings per share of $0.19 inthe second quarter of last year.

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