- Prachi Singh |
Aeropostale reported that its first quarter net sales decreased 20 percent to 318.6 million dollars, from 395.9 million dollars in the year ago period. Comparable sales, including the e-commerce channel, for the first quarter decreased 11 percent, compared to a decrease of 13 percent for the corresponding period ended May 3, 2014.
The company reported a net loss for the first quarter of 45.3 million dollars, or 0.57 dollars per diluted share. The company reported an operating loss of 40.5 million dollars.
Elaborating on the company’s performance, Julian R. Geiger, Chief Executive Officer, said, “As we anticipated, the first quarter represented a period of transition for us. We worked our way through a number of issues, including a merchandise assortment that was not consistent with our future direction, unseasonably cool weather, and the West Coast port slowdown. However, the performance of our women's division exceeded our expectations.”
The company opened one Aeropostale store during the quarter and closed 12 Aeropostale stores. For the second quarter of fiscal 2015, the company expects operating losses in the range of 37 to 43 million dollars, which translates to a net loss in the range of 0.52 dollars to 0.60 dollars per diluted share.