Aeropostale Down 5% After Q3 Results
Aeropostale (NYSE: ARO) released its fiscal third-quarter earnings results after the closing bell on Wednesday. During Thursday's trading session, the stock has bounced back from its worst levels traded down around five percent to near $13.49. Shares opened the day at $13.05. The stock is trading at the lower end of its 52-week range of $11.76 to $23.05 and has now lost almost 11 percent in 2012.
The company reported a slight rise in net income to $24.9 million from $24.1 million in the year ago quarter. On a per share basis, Aeropostale earned $0.31 versus $0.30 last year. This beat Wall Street earnings per share estimates of $0.29 by two pennies.
Net sales in the quarter were up 2 percent to $605.9 million from $596.5 million in last year's fiscal third-quarter. This also exceeded Wall Street consensus estimates of $600.44 million.
While Aeropostale's third-quarter numbers beat Wall Street expectations, the stock has been under pressure due to poor guidance. The company said that it sees earnings per share in a range of $0.36 to $0.41 for the fiscal fourth-quarter. This is well below current consensus earnings expectations of $0.54 for the upcoming quarter.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.