- Prachi Singh |
After announcing two new executive appointments, Aeropostale revealed preliminary and unaudited financial results for the fourth quarter of fiscal 2014. For the fourth quarter of fiscal 2014, net sales decreased 11 percent to 594.5 million dollars, from 670 million dollars in the year ago period. Comparable sales, including the e-commerce channel, for the fourth quarter decreased by 9 percent, compared to a 15 percent decrease last year.
Based on better than expected sales, margins, and expense management for the month of January, the company now expects an operating loss for the fourth quarter of fiscal 2014 in the range of approximately 2.0 million dollars, which translates to a net loss in the range of approximately 0.06 dollars to 0.01 dollars per diluted share based on the company's originally estimated tax rate of approximately 4 percent. This revised outlook compares to the company's previously issued guidance of operating losses in the range of 18 dollars to 23 million dollars, which translated to a net loss in the range of approximately 0.25 dollars to 0.31 dollars per diluted share.
“I am encouraged with the progress we are making and that we were able to deliver higher comparable sales and margins in January, which allowed us to exceed our updated guidance. With today's announced executive appointments, we are returning to an organizational structure that existed when Aeropostale registered its most significant gains in sales and profitability,” said Julian R. Geiger, Chief Executive Officer, Aeropostale. The company expects to announce fourth quarter and fiscal 2014 earnings results on March 12, 2015.