Aeropostale Reports Record Second Quarter 2009 ResultsSecond Quarter Net Sales Increase 20%; Same Store Sales Increase 12%Earnings Per Share Growth of 84% to $0.57 Per Diluted ShareProvides Third Quarter Guidance
NEW YORK, Aug. 20 /PRNewswire-FirstCall/ -- Aeropostale, Inc. (NYSE: ARO), a mall-based specialty retailer of casual apparel for young women and men, today reported results for the second quarter ended August 1, 2009.
Net income for the second quarter of fiscal 2009 was $38.6 million, or $0.57 per diluted share, compared to net income of $21.1 million, or $0.31 per diluted share, in the second quarter of fiscal 2008. Results for the second quarter include pre-tax charges of approximately $0.6 million related to the closing of the Company's Jimmy'Z concept.
For the second quarter of fiscal 2009, total net sales increased 20% to $453.0 million, from $377.1 million in the year ago period. Same store sales for the second quarter increased 12%, compared to a same store sales increase of 11% last year. Year to date, total net sales have increased 21% to $861.0 million, from $713.5 million in the year ago period. Year to date, same store sales have increased 11%, compared to a same store sales increase of 10% last year.
Total net revenue from the Company's e-commerce business for the second quarter of fiscal 2009 increased 49% to $15.8 million, from $10.6 million for the second quarter of fiscal 2008.
Julian R. Geiger, Chairman and Chief Executive Officer, said, "We are extremely pleased with our results for the second quarter. We continue to create strong brand momentum by striking the right balance between fashion and value. Our initial reads on our back to school merchandise have been positive and we believe that we are well positioned as we head into the second half of the year. We remain focused on executing our strategic initiatives and investing in our business to support long-term growth."
Third Quarter Guidance:
The Company announced its earnings guidance for the third quarter of fiscal 2009. The Company believes it will achieve earnings in the range $0.76 to $0.78 per diluted share for the third quarter, compared to earnings of $0.63 per share in the third quarter last year.
Conference Call Information
The Company will be holding a conference call today at 4:15 P.M. EDT to review its second quarter results. The broadcast will be available through the 'Investor Relations' link at www.aeropostale.com and www.fulldisclosure.com. To listen to the broadcast your computer must have Windows Media Player installed. If you do not have Windows Media Player go to the latter site prior to the call, where you can download the software for free.
About Aeropostale, Inc.
Aeropostale, Inc. is a mall-based, specialty retailer of casual apparel and accessories, principally targeting 14 to 17 year-old young women and men through its Aeropostale(R) stores and 7 to 12 year-old kids through its P.S. from Aeropostale(TM) stores. The Company provides customers with a focused selection of high-quality, active-oriented, fashion and fashion basic merchandise at compelling values. Aeropostale(R) maintains control over its proprietary brands by designing, sourcing, marketing and selling all of its own merchandise. Aeropostale(R) products can only be purchased in its Aeropostale stores and online at www.aeropostale.com. P.S. from Aeropostale(TM) products can be purchased in P.S. from Aeropostale(TM) stores and online at www.ps4u.com. The Company currently operates 887 Aeropostale stores in 49 states and Puerto Rico, 37 Aeropostale stores in Canada and 7 P.S. from Aeropostale stores in 3 states.
SPECIAL NOTE: THIS PRESS RELEASE AND ORAL STATEMENTS MADE FROM TIME TO TIME BY REPRESENTATIVES OF THE COMPANY CONTAIN CERTAIN "FORWARD-LOOKING STATEMENTS" CONCERNING EXPECTATIONS FOR SALES, STORE OPENINGS, GROSS MARGINS, EXPENSES, STRATEGIC DIRECTION AND EARNINGS. ACTUAL RESULTS MIGHT DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. AMONG THE FACTORS THAT COULD CAUSE ACTUAL RESULTS TO MATERIALLY DIFFER INCLUDE, CHANGES IN THE COMPETITIVE MARKETPLACE, INCLUDING THE INTRODUCTION OF NEW PRODUCTS OR PRICING CHANGES BY OUR COMPETITORS, CHANGES IN THE ECONOMY AND OTHER EVENTS LEADING TO A REDUCTION IN DISCRETIONARY CONSUMER SPENDING; SEASONALITY; RISKS ASSOCIATED WITH CHANGES IN SOCIAL, POLITICAL, ECONOMIC AND OTHER CONDITIONS AND THE POSSIBLE ADVERSE IMPACT OF CHANGES IN IMPORT RESTRICTIONS; RISKS ASSOCIATED WITH UNCERTAINTY RELATING TO THE COMPANY'S ABILITY TO IMPLEMENT ITS GROWTH STRATEGIES, AS WELL AS THE OTHER RISK FACTORS SET FORTH IN THE COMPANY'S FORM 10-K AND QUARTERLY REPORTS ON FORM 10-Q, FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS TO REFLECT SUBSEQUENT EVENTS OR CIRCUMSTANCES.