US: Aeropostale bucks trend with Q2 profit rise
- Second quarter profit rise to $38.6m
- Net sales increase of 20%
- 49% e-commerce growth
Mall-based casual apparel retailer Aeropostale reported profit growth for the second quarter on the back of a 20% sales increase.
Net income for the second quarter of fiscal 2009 was $38.6m, compared to net income of $21.1m in the second quarter of fiscal 2008.
For the second quarter period net sales increased 20% to $453.0m, from $377.1m in the year ago period.
Same-store sales for the second quarter increased 12%, compared to a same store sales increase of 11% last year.
Total net revenue from the company's e-commerce business for the second quarter of fiscal 2009 increased 49% to $15.8m.
Julian R Geiger, chairman and CEO, said: "We are extremely pleased with our results for the second quarter. We continue to create strong brand momentum by striking the right balance between fashion and value."
The company believes it will achieve earnings in the range $0.76 to $0.78 per diluted share for the third quarter, compared to earnings of $0.63 per share in the third quarter last year.
Click here to view the company's full second quarter balance sheet.
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