Aeropostale Q4 profit slips 13%, 50 new stores on tap in 2011
New York City -- Aeropostale's fourth-quarter profit slid 13% amid weaker gross margins and falling same-store sales. For the quarter ended Jan. 29, the chain posted a profit of $83.8 million, down from $96.6 million a year earlier.
Revenue increased 5% to $839.3 million, from $801.2 million in the year-ago period. Same-store sales decreased 3%.
For the full year, net sales increased 8% to $2.4 billion, from $2.23 billion a year earlier. Same-store sales inched up 1%.
For fiscal 2011, Aeropostale said it plans to open about 30 namesake stores, 20 P.S. from Aeropostale kids stores, and remodel some 50 stores, in addition to certain information technology investments.