Aeropostale CEO pleased with strong performance for Q1
25 May '07
3 min read
Aeropostale Inc a mall-based specialty retailer of active and casual apparel for young men and women reported results for the first quarter ended May 5, 2007.
Net income for the first quarter of fiscal 2007 was $13.8 million, or $0.26 per diluted share, an increase of 73.3% compared to net income of $8.4 million, or $0.15 per diluted share, in the first quarter of fiscal 2006.
For the first quarter of fiscal 2007, total net sales increased 12.0% to $275.8 million, from $246.3 million in the year-ago period. Same store sales for the first quarter increased 2.5%, compared to the corresponding 13 weeks ended May 6, 2006.
Julian R. Geiger, Chairman and Chief Executive Officer, said, “We are very pleased with our performance for the first quarter, the results of which significantly exceeded our expectations. Our balanced and trend-right merchandise assortments are continuing to be received positively by our customers."
Our accomplishments for the quarter also reflect improvements we have made in our planning process and in our inventory management.
"As a result of the consistent execution of our strategic initiatives, we achieved strong increases in our gross margins and we ended the quarter with record earnings. We are thrilled with the momentum of our business and look forward to exciting summer and back to school selling seasons.”
The Company announced its earnings guidance for the second quarter of fiscal 2007. The Company believes it will achieve earnings in the range $0.26 to $0.28 per diluted share. Based on the calendar year shift, which includes the acceleration of the back to school selling season, this guidance reflects an estimated shift of $0.04 to $0.06 earnings per share to the second quarter from the third quarter.
marketing@alchempro.com
