Youth-oriented apparel chain Aeropostale Inc on Tuesday reported a wider second quarter net loss as one-time charges offset improved sales.
The New York-based operator of 335 stores posted a $2 million loss, or six cents per share, for the 13 weeks ended August 3, versus a net loss of $1.7m, or six cents per share, in the year-ago period.
Excluding a non-cash charge related to equity-based compensation of about $3.9m, the retailer had a profit of one cent a share.
Quarterly sales climbed 41.4 per cent to $90.1m from $63.8m helped by the opening of 83 new stores while same-store sales surged 11.2 per cent.
Chairman and CEO, Julian Geiger, noted: “Given the difficult retail environment, we are very pleased with our financial results for the second quarter.
“We believe we have the right merchandise assortment for back to school, and are comfortable with our trends based upon results from those stores which have earlier back to school shopping periods.”
Source: just-style.com.
Date:8/21/2002
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