NEW YORK--(BUSINESS WIRE)--Nov. 5, 2003--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 November 1, 2003 increased 15.2% to
$56.1 million, compared to $48.7 million for the four-week period
ended November 2, 2002. The company's comparable store sales decreased
6.8% for the month, versus the year-ago comparable store sales
increase of 11.7%.
For the quarter ended November 1, 2003, total net sales have
increased 30.1% to $220.1 million, compared to $169.2 million in the
year ago quarter. Third quarter comparable store sales increased 5.2%,
compared to 5.0% in the year-ago quarter. Year-to-date, total net
sales have increased 34.2% to $462.2 million, compared to $344.5
million in the year-ago period. Year-to-date, comparable store sales
have increased 5.4%, compared to 10.8% in the year-ago period.
Julian R. Geiger, Chairman and Chief Executive Officer said,
"During last October our priority was to reduce higher than desired
inventory levels by increasing promotional activity. The result was an
accelerated comp for the month. This year, we were able to focus on a
smooth transition from back to school to our initial holiday floorset.
Accordingly, we finished the month and quarter with gross margin
improvement over last year and inventories on plan. We are pleased
with our merchandise assortment and believe we are well positioned for
the holiday selling season."
The company also updated guidance for the third quarter indicating
its comfort with the current First Call consensus earnings estimate of
$0.55 per fully-diluted share, compared to its previously issued
guidance of $0.51 per fully-diluted share.
To hear the Aeropostale prerecorded October sales message, please
dial 877-519-4471 or 973-341-3080, followed by the conference
identification number 3788345#.
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 460 stores in 41 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 July 28, 2003 filed with the Securities and
Exchange Commission, which discussions are incorporated in this
release by reference.
CONTACT: Aeropostale, Inc.
Michael Cunningham, 888-363-2825
Integrated Corporate Relations, Inc.
James Palczynski or Chad A. Jacobs, 203/222-9013
SOURCE: Aeropostale, Inc.