Aeropostale net income drops by two-thirds in Q4; to open net 38 stores this year
New York -- Aeropostale Inc. reported Thursday that profit for the quarter ended Jan. 28 dropped to $26.1 million, from $83.8 million a year earlier, hurt by heightened supply-chain expenses.
Revenue dipped 4% to $808.4 million in the quarter, and same-store sales fell 9%. Results edged Wall Street’s expected $807.6 million in revenue.
For the full fiscal year 2011, Aeropostale posted a profit of $69.5 million, compared with $231.3 million last year. Revenue to $2.34 billion, from $2.40 billion in fiscal 2010.
“While our overall financial performance for the year was disappointing, we believe 2011 was a pivotal inflection point for our organization," said Thomas Johnson, CEO.
For fiscal 2012, Aeropostale said it plans to open 18 Aeropostale stores, 30 P.S. from Aeropostale stores, remodel five stores, and close 10 Aeropostale stores.