- Prachi Singh |
REPORT_ Aeropostale in its results for the third quarter of fiscal 2014 announced that its net sales decreased 12 percent to 452.9 million dollars, from 514.6 million dollars in the year ago period. Comparable sales, including the e-commerce channel, for the third quarter decreased 11 percent compared to the corresponding 13-week period. The company reported a net loss for the third quarter of fiscal 2014 of 52.3 million dollars, or 0.66 dollars per diluted share.
Commenting on the results, Julian R. Geiger, Chief Executive Officer, said, “During my first 100 days back at Aeropostale, I have developed and begun executing my vision of, and game plan for, positioning and returning the company to profitability. In that time, we have also continued to support and accelerate a variety of well-conceived and executed merchandising, marketing, operational and financial initiatives that started before my arrival. We have made small but measureable steps in the right direction, which led to third quarter results that were in line with our guidance.”
The company opened three Aeropostale stores and closed 16 Aeropostale and 7 P.S. from Aeropostale stores during the quarter. For the fourth quarter of fiscal 2014, the company expects operating losses in the range of 28 dollars to 34 million dollars, which translates to a net loss in the range of 0.37 dollars to 0.44 dollars per diluted share.