NEW YORK, Jul 11, 2007 (BUSINESS WIRE) -- Aeropostale, Inc. (NYSE: ARO), a mall-based specialty retailer of
casual and active apparel for young women and men, today announced a
3-for-2 stock split on all shares of its common stock, which will be
effected in the form of a stock dividend. The stock split will entitle
all shareholders of record at the close of business on August 6, 2007
to receive one additional share of Aeropostale common stock for every
two shares of common stock held on that date. The additional shares
will be distributed to shareholders on or about August 21, 2007. Cash
will be paid in lieu of issuing fractional shares based on the closing
price of the company's common stock on August 21, 2007 (as adjusted
for the stock split). Aeropostale has approximately 51.8 million
shares outstanding, and after giving effect to the stock split, will
have approximately 77.7 million shares outstanding.
The Company also announced today that, at its 2007 Annual Meeting
of Shareholders held on June 20, 2007, the Company's shareholders
voted to approve an amendment to the Company's Amended and Restated
2002 Long-Term Incentive Plan, providing for an increase in the number
of shares authorized to be issued under the Plan by an additional
2,500,000 shares.
About Aeropostale, Inc.
Aeropostale, Inc. is a mall-based, specialty retailer of casual
apparel and accessories, principally targeting 14 to 17 year-old young
women and men. The company provides customers with a focused selection
of high-quality, active-oriented, fashion and fashion basic
merchandise at compelling values. Aeropostale maintains control over
its proprietary brands by designing, sourcing, marketing and selling
all of its own merchandise. Aeropostale products are currently
purchased only in its stores, on-line through its e-commerce website
(www.aeropostale.com) or at organized sales events at college
campuses.
The company currently operates 770 Aeropostale stores in 47 states
and 14 Jimmy'Z stores in 11 states
SPECIAL NOTE: THIS PRESS RELEASE AND ORAL STATEMENTS MADE FROM
TIME TO TIME BY REPRESENTATIVES OF THE COMPANY CONTAIN CERTAIN
"FORWARD-LOOKING STATEMENTS" CONCERNING EXPECTATIONS FOR SALES, STORE
OPENINGS, GROSS MARGINS, EXPENSES, STRATEGIC DIRECTION AND EARNINGS.
ACTUAL RESULTS MIGHT DIFFER MATERIALLY FROM THOSE PROJECTED IN THE
FORWARD-LOOKING STATEMENTS. AMONG THE FACTORS THAT COULD CAUSE ACTUAL
RESULTS TO MATERIALLY DIFFER INCLUDE, CHANGES IN THE COMPETITIVE
MARKETPLACE, INCLUDING THE INTRODUCTION OF NEW PRODUCTS OR PRICING
CHANGES BY OUR COMPETITORS, CHANGES IN THE ECONOMY AND OTHER EVENTS
LEADING TO A REDUCTION IN DISCRETIONARY CONSUMER SPENDING;
SEASONALITY; RISKS ASSOCIATED WITH CHANGES IN SOCIAL, POLITICAL,
ECONOMIC AND OTHER CONDITIONS AND THE POSSIBLE ADVERSE IMPACT OF
CHANGES IN IMPORT RESTRICTIONS; RISKS ASSOCIATED WITH UNCERTAINTY
RELATING TO THE COMPANY'S ABILITY TO IMPLEMENT ITS GROWTH STRATEGIES,
AS WELL AS THE OTHER RISK FACTORS SET FORTH IN THE COMPANY'S FORM 10-K
AND QUARTERLY REPORTS ON FORM 10-Q, FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE OR
REVISE ANY FORWARD-LOOKING STATEMENTS TO REFLECT SUBSEQUENT EVENTS OR
CIRCUMSTANCES.
SOURCE: Aeropostale, Inc.
Aeropostale, Inc.
Kenneth Ohashi, 646-452-1876
VP, Investor & Media Relations
kohashi@aeropostale.com
or
Media:
Financial Dynamics
Cara O'Brien/Leigh Parrish
212-850-5600
