Aeropostale posts Q4 loss; will open 60 kids stores in 2013
New York -- Aeropostale Inc. reported an unexpected loss for its fourth quarter, hurt by declining same-store sales and store asset impairment charges. The teen apparel chain also forecast a loss for the current quarter, citing markdowns and a weak economy.
"We anticipate a challenging first quarter as a result of expected margin pressures from holiday carryover inventory, and the impact of a weak macroeconomic environment,” said Aeropostale CEO Thomas Johnson.
For the 14 weeks ended Feb. 2, Aeropostale reported a net loss of $671,000, compared with a profit of $26.1 million for the year-earlier period, which included one less week.
Revenue dropped 1% to $797.7 million. Same-store sales, including e-commerce revenue, fell 8%.
Looking ahead, in fiscal 2013, the retailer plans to open approximately 14 Aeropostale stores, approximately 60 P.S. from Aeropostale stores, remodel approximately 30 stores, and close approximately 15 to 20 Aeropostale stores. The company expects to invest approximately $89.0 million in its store growth and certain information technology, compared to approximately $72.3 million in fiscal 2012.
Net sales for fiscal 2012 increased 2% to $2.386 billion, from $2.342 billion in the year ago period. Fiscal 2012 comparable sales, including the e-commerce channel, decreased 2% compared to an 8% decrease for the comparable 53-week period of the prior year. Fiscal 2012 comparable store sales, excluding the e-commerce channel, decreased 4%, compared to a decrease of 9% for the comparable 53-week period of the prior year.