Aeropostale Reports First Quarter Results.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Aeropostale, Inc. (NYSE NYSE See: New York Stock Exchange : ARO), a mall-based specialty retailer of active and casual apparel for the teen market, today reported record results for the first quarter ended April 30, 2005. Net income for the first quarter of fiscal 2005 was $8.6 million or $0.15 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, representing an increase of 36.4% over net income of $6.3 million or $0.11 per diluted share in the first quarter of last year. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the first quarter of fiscal 2005 increased 26.3% to $211.7 million versus net sales of $167.7 million in the first quarter of last year. Comparable store sales for the first quarter increased 4.4% versus an increase of 18.9% last year. Julian Julian or Julian the Apostate Latin Julianus Apostata orig. Flavius Claudius Julianus (born AD 331/332, Constantinople—died June 26/27, 363, Ctesiphon, Mesopotamia) Roman emperor (361–363), noted scholar and military leader. R. Geiger, Chairman and Chief Executive Officer said, "We are pleased to have met our earnings guidance for the quarter, particularly in light of our lower than anticipated sales for the quarter. While mall mall: see shopping center. (World-Wide Web) mall - A collection of World-Wide Web documents featuring commercial products and services, usually served by one particualr Internet access provider. traffic appears to have diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. since February February: see month. , we remain confident about our opportunities for back to school. Our primary goal during the second quarter is to clear seasonal goods on a strategic and timely basis and position ourselves appropriately for this key selling season." SECOND QUARTER GUIDANCE: The company announced its earnings guidance for the second quarter of fiscal 2005. The company noted that it expects to achieve second quarter earnings in the range of $0.20 to $0.23 per diluted share based on a low single digit A single character in a numbering system. In decimal, digits are 0 through 9. In binary, digits are 0 and 1. digit - An employee of Digital Equipment Corporation. See also VAX, VMS, PDP-10, TOPS-10, DEChead, double DECkers, field circus. comparable store sales increase and 35 new stores. The company reported earnings per share of $0.19 in the second quarter of last year. CONFERENCE CALL INFORMATION: The Company will be holding a conference call today at 4:15 P.M. to review its fiscal 2005 first quarter results. The broadcast will be available through the 'Investor Relations' link at www.aeropostale.com and at www.fulldisclosure.com. To listen to the broadcast, your computer must have Windows Media Player Digital jukebox software for Windows from Microsoft that plays a variety of audio, video and streaming formats including MP3, WMA, CD audio and MIDI. Starting with Version 6.2 in 1999, the Windows Media Rights Manager was added for securing copyrighted content. installed. If you do not have Windows Media Player, go to the latter site prior to the call, where you can download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. the software for free. About Aeropostale, Inc. Aeropostale, Inc. is a fast growing, mall-based, specialty retailer of casual apparel and accessories, principally targeting 11 to 18 year-old young women and men. The company provides customers with a focused selection of high-quality, active-oriented, fashion basic merchandise MERCHANDISE. By this term is understood all those things which merchants sell either wholesale or retail, as dry goods, hardware, groceries, drugs, &c. It is usually applied to personal chattels only, and to those which are not required for food or immediate support, but such as remain at compelling values. Aeropostale maintains control over its proprietary brands by designing, marketing and selling all of its own merchandise. Aeropostale products are currently purchased only in its stores or at organized sales events Noun 1. sales event - an occasion (usually brief) for buying at specially reduced prices; "they held a sale to reduce their inventory"; "I got some great bargains at their annual sale" cut-rate sale, sale at college campuses. Starting this summer, Aeropostale will also be selling its products on-line through its website (www.aeropostale.com). The first Aeropostale store opened in 1987. The company currently operates 601 stores in 47 states. SPECIAL NOTE: THIS PRESS RELEASE AND ORAL STATEMENTS MADE FROM TIME TO TIME BY REPRESENTATIVES OF THE COMPANY CONTAIN CERTAIN "FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " 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, AMONG OTHERS, CHANGES IN THE COMPETITIVE MARKETPLACE, INCLUDING THE INTRODUCTION OF NEW PRODUCTS OR PRICING CHANGES BY OUR COMPETITORS COMPETITORS, French law. Persons who compete or aspire to the same office, rank or employment. As an English word in common use, it has a much wider application. Ferriere, Dict. de Dr. h.t. , CHANGES IN THE ECONOMY AND OTHER EVENTS LEADING TO A REDUCTION IN DISCRETIONARY CONSUMER SPENDING Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. ; 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 relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. AND CURRENT REPORTS ON FORM 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , 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 CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or .
EXHIBIT A
AEROPOSTALE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
April 30, January 29, May 1,
2005 2005 2004
----------------------------
ASSETS
Current Assets:
Cash and cash equivalents $119,293 $106,128 $67,657
Short-term investments 58,151 76,224 36,412
Merchandise inventory 89,575 81,238 70,958
Other current assets 18,689 15,897 17,865
---------------------------
Total current assets 285,708 279,487 192,892
Fixtures, equipment and improvements, net 133,337 122,651 101,410
Other assets 3,658 3,681 2,029
---------------------------
TOTAL ASSETS $422,703 $405,819 $296,331
===========================
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $63,607 $44,858 $34,372
Accrued expenses 36,521 52,136 30,011
---------------------------
Total current liabilities 100,128 96,994 64,383
Other non-current liabilities
78,090 70,574 55,721
Stockholders' equity 244,485 238,251 176,227
---------------------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $422,703 $405,819 $296,331
===========================
EXHIBIT B
AEROPOSTALE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND
SELECTED STORE DATA
(in thousands, except per share and store data)
13 weeks ended
--------------------------------
April 30, 2005 May 1, 2004
--------------------------------
% of % of
sales sales
------ ------
Net sales $211,674 100.0% $167,654 100.0%
Cost of sales (including certain
buying, occupancy and warehousing
expenses) 151,903 71.8 118,547 70.7
--------------------------------
Gross profit
59,771 28.2 49,107 29.3
Selling, general and administrative
expenses 46,437 21.9 39,105 23.3
--------------------------------
Income from operations
13,334 6.3 10,002 6.0
Interest income, net
785 0.3 259 0.1
--------------------------------
Income before income taxes
14,119 6.6 10,261 6.1
Income taxes
5,505 2.5 4,000 2.4
--------------------------------
Net income
$8,614 4.1% $6,261 3.7%
================================
Basic earnings per share $0.16 $0.11
========== ==========
Diluted earnings per share $0.15 $0.11
========== ==========
Weighted average basic shares 55,409 55,820
Weighted average diluted shares 56,573 57,700
STORE DATA:
Comparable store sales 4.4% 18.9%
Stores open at end of period 597 489
Total gross square footage at end of
period 2,108,929 1,719,607
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