Aeropostale Updates on Holiday Sales and 4Q Earnings Update [Manufacturing Close - Up]
(Manufacturing Close - Up Via Acquire Media NewsEdge) Aeropostale, Inc., a mall-based specialty retailer of casual apparel for young women and men, announced that total net sales for the nine-week period ended Dec. 29, decreased 6 percent to $645.0 million, from $682.6 million for the nine-week period ended Dec. 31, 2011.
In a release dated Jan. 10, the Company said Comparable sales, including the e-commerce channel, for the nine-week period ended Dec. 29, decreased 8 percent compared to a 9 percent decrease last year. Comparable store sales, excluding the e-commerce channel, decreased 9 percent, compared to a 10 percent decrease last year.
Thomas Johnson, Chief Executive Officer, said, "Following a strong Black Friday weekend, sales and traffic trends deteriorated significantly in December. From a merchandise perspective our core basics businesses, particularly graphics and fleece, remained challenged. We continue to manage our inventories carefully, and we will enter the spring season with fresh and updated assortments."
Based on the lower than expected sales and margins for the quarter, the Company expects net earnings to be in the range of approximately $0.20 to $0.24 per diluted share, versus its previously issued guidance of approximately $0.36 to $0.41 per diluted share. The revised earnings guidance does not include the impact of any potential store asset impairment charges.
The Company expects to announce fourth quarter and fiscal 2012 earnings results on Thursday, March 14, 2013 at 4:15 p.m. (EST).
((Comments on this story may be sent to firstname.lastname@example.org))
(c) 2013 ProQuest Information and Learning Company; All Rights Reserved.
[ Back To Technology News's Homepage ]