USA: Aeropostale Swings To Q2 Profit On Strong Sales
The company reported net income for the quarter ended August 2 of $2.7 million or seven cents per diluted share, versus a net loss of $2m, or six cents per share, in the comparable quarter in the prior year.
Net sales jumped 44.2 per cent to $129.9m from $90.1m with same-store sales up 9.2 per cent.
Chairman and CEO, Julian Geiger, said: "We are very pleased with the vitality of our business in the second quarter. Our sales were driven by above-plan results for both new stores and same stores sales.
"We executed well, utilised inventory effectively, transitioned into fall assortments smoothly, and positioned our company for a successful back-to-school."
The New York-based operator of 427 stores said it is "comfortable" with the current consensus for third quarter earnings of 51 cents per share.
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