US: Aeropostale boosted by 18% Q3 profit surge
A double-digit increase in third quarter sales helped apparel retailer Aeropostale to post an 18% increase in net profit to US$42.6m.
The teen-focused company recorded a 17% sales increase to $482m in the three months to 1 November. Same store sales were up 7%, and earnings per share leapt 31% to $0.63.
November sales had increased 5% to $200.9m, Aeropostale added. Same store sales dropped 5%, but the company attributed this to the later Thanksgiving holiday.
For the nine months to 1 November, sales were up 17% to $1.396bn, with same store sales up 7%.
Chairman and CEO Julian R Geiger said he was pleased with the results.
"This accomplishment was particularly impressive given the unprecedented weakness in the macroeconomic environment," he added.
"Our performance demonstrates the strength of our brand and the flexibility and resilience of our business model."
Aeropostale expects fourth quarter earnings per share in the $0.84-0.90 range.
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