NEW YORK, Feb 5, 2003 (BUSINESS WIRE) -- Aeropostale, Inc. (NYSE:ARO), a
mall-based specialty retailer of casual and active apparel for young women and
men, today announced that total net sales for the four-week period ended
February 1, 2003 increased 36.4% to $24.0 million, compared to $17.6 million for
the four weeks ended February 2, 2002.
The Company generated a January comparable store sales increase of 4.6% versus
the year-ago comparable store sales increase of 9.3%.
Julian R. Geiger, Chairman and CEO said, "During January we were able to achieve
our sales plan and sustain better than anticipated merchandise margins. We are
pleased that the management of our inventory has resulted in a reduction, on a
square foot basis, compared to last year. We also benefited from better than
anticipated shrink levels through our focus on inventory. As a result of these
successful efforts, we now believe that fourth quarter earnings are likely to be
in the range of $0.44 to $0.46 per diluted share versus our prior guidance of
$0.38 to $0.40."
For the quarter ended February 1, 2003, total net sales have increased 30.6 % to
$206.4 million, compared to $158.0 million in the year ago quarter. Fourth
quarter comparable sales increased 0.3%. Fiscal year to date, total net sales
have increased 36.2% to $550.9 million, compared to $404.4 million in the
year-ago period. Year to date comparable store sales have increased 6.6%.
To hear the Aeropostale prerecorded January sales message, please dial (877)
289-8525 or (416) 640-1917, followed by the conference identification number
About Aeropostale, Inc.
Aeropostale, Inc. (www.aeropostale.com) is a mall-based specialty retailer of
casual apparel and accessories that targets both young women and young men aged
11 to 20. The company provides customers with a selection of high-quality,
active-oriented, fashion basic merchandise in a high-energy store environment.
The company maintains complete control over the proprietary brand by designing
and sourcing all of its own merchandise. Aeropostale products can be purchased
only in its stores, which sell Aeropostale merchandise exclusively.
The first Aeropostale store was opened in 1987. The company currently operates
368 stores in 35 states.
Special Note: Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: Except for historical information contained herein, the
statements made in this release constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements involve certain
risks and uncertainties, including statements regarding the company's strategic
direction, prospects and future results. Certain factors, including factors
outside of our control, may cause actual results to differ materially from those
contained in the forward-looking statements. These factors include the company's
ability to implement its growth strategy successfully, changes in consumer
fashion preferences, economic and other conditions in the markets in which we
operate, competition, seasonality and the other risks discussed in the company's
prospectus dated May 16, 2002 filed with the Securities and Exchange Commission,
which discussions are incorporated in this release by reference.
CONTACT: Aeropostale, Inc.
Michael Cunningham, 973/872-5677
Integrated Corporate Relations, Inc.
James Palczynski/Chad A. Jacobs
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