Aeropostale manages to narrow comparable sales decline

Aeropostale reported net sales decrease of 11 percent to 593.8 million dollars, from 670 million dollars in the year ago period. Fourth quarter comparable sales, including the e-commerce channel, decreased 9 percent, compared to a decrease of 15 percent for the corresponding period of the prior year. Net sales for fiscal 2014 decreased 12 percent to 1.839 billion dollars, from 2.091 billion dollars in the year ago period. Fiscal 2014 comparable sales, including the e-commerce channel, decreased 11 percent compared to a 15 percent decrease for the corresponding period of the prior year.

Net loss for the fourth quarter stood at 13.5 million dollars, or 0.17 dollars per diluted share. The company reported an operating loss of 14 million dollars. The company opened no Aeropostale or P.S. from Aeropostale stores, and closed 77 Aeropostale and 115 P.S. from Aeropostale stores during the quarter.

Commenting on the performance, Julian R. Geiger, Chief Executive Officer, said, "Achieving our first operating profit in eight quarters is a noteworthy accomplishment. Not only did we register a profit on an adjusted basis, but we also beat our original and revised guidance for the fourth quarter through better than expected margins and expense savings."

For the full year, it reported a net loss of 206.5 million dollars, or 2.62 dollars per diluted share and adjusted net loss of 112 million dollars, or 1.42 dollars per diluted share. The company reported an operating loss of 213.1 million dollars or, excluding the charges, an operating loss of 113.4 million dollars.

Aeropostale manages to narrow comparable sales decline

For the first quarter of fiscal 2015, the company expects operating losses in the range of 39 million dollars to 45 million dollars, which translates to a net loss in the range of 0.53 dollars to 0.61 dollars per diluted share. For fiscal 2015, the company plans to open approximately one Aeropostale store and remodel, either partially or fully, approximately 13 Aeropostale stores. Currently, it plans to close around 50 to 75 Aeropostale stores and one P.S. store.

 

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