Aeropostale Inc reported results for the fourth quarter (fourth quarter of fiscal 2006 consisted of 14 weeks compared to fourth quarter of fiscal 2005 which consisted of 13 weeks) and fiscal year ended February 3, 2007 (fiscal 2006 consisted of 53 weeks compared to fiscal 2005 which consisted of 52 weeks).
Julian R. Geiger, Chairman and Chief Executive Officer, said, “The past year was one of significant accomplishment and growth for Aeropostale. We are pleased that we executed our strategic initiatives, consistently and well. We regained balance in our merchandise assortment, delivered excitement with our brand building initiatives and improved our planning processes.
As a result, we achieved double-digit annual sales growth and earnings per share growth in excess of 25% over the previous year. We ended the year with strong momentum and we believe that the Aeropostale brand is recognized, respected and effectively positioned for a strong 2007.”
Fourth Quarter Performance: Net income for the fourth quarter of fiscal 2006 was $57.3 million, or $1.08 per diluted share, which includes pre-tax $7.4 million (net of professional fees), or $0.08 per diluted share, representing concessions, primarily by South Bay Apparel Inc to the company for prior purchases of merchandise.
Excluding these vendor concessions, the Company achieved net earnings of $1.00 per diluted share, representing an increase of approximately 31.6%, when compared to $0.76 per diluted share in the fourth quarter of fiscal 2005. The results for the fourth quarter also included a $0.01 per diluted share charge related to the expensing of stock options.
marketing@alchempro.com
