Aeropostale Reports Record First Quarter 2007 Results.Record Sales of $275.8 Million Earnings Per Share Growth of 73% to $0.26 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 Provides Second Quarter Guidance 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 young men and women, today reported results for the first quarter ended May 5, 2007. Net income for the first quarter of fiscal 2007 was $13.8 million, or $0.26 per diluted share, an increase of 73.3% compared to net income of $8.4 million, or $0.15 per diluted share, in the first quarter of fiscal 2006. For the first quarter of fiscal 2007, total 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 increased 12.0% to $275.8 million, from $246.3 million in the year-ago period. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of for the first quarter increased 2.5%, compared to the corresponding 13 weeks ended May 6, 2006. Julian R. Geiger, Chairman and Chief Executive Officer, said, "We are very pleased with our performance for the first quarter, the results of which significantly exceeded our expectations. Our balanced and trend-right merchandise assortments are continuing to be received positively by our customers. Our accomplishments for the quarter also reflect improvements we have made in our planning process and in our inventory management. As a result of the consistent execution of our strategic initiatives, we achieved strong increases in our gross margins and we ended the quarter with record earnings. We are thrilled with the momentum of our business and look forward to exciting summer and back to school selling seasons." Second Quarter Guidance The Company announced its earnings guidance for the second quarter of fiscal 2007. The Company believes it will achieve earnings in the range $0.26 to $0.28 per diluted share. Based on the calendar year shift, which includes the acceleration of the back to school selling season, this guidance reflects an estimated shift of $0.04 to $0.06 earnings per share to the second quarter from the third quarter. This compares to net income for the second quarter of fiscal 2006 of $8.4 million, or $0.16 per diluted share, (which included $2.1 million of other income in connection with the resolution of a dispute with a vendor regarding the enforcement of the Company's intellectual property rights). Net income, excluding other income, was $7.2 million, or $0.13 per diluted share for the second quarter of fiscal 2006. The Company believes that the disclosure of sales on a pro-forma basis due to the 53rd week in fiscal 2006 and reporting diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of which excluded other income in fiscal 2006, both of which are non-GAAP financial measures, provides investors useful information to help them better understand the Company's expected results without the impact of the two items described above. Conference Call Information: The Company will be holding a conference call today at 4:15 P.M. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT to review its first quarter 2007 financial 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 the software for free. 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 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. The company currently operates 757 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 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, 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 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 QUARTERLY REPORTS ON FORM 10-Q Form 10-Q See 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. [TABLE OMITTED] [TABLE OMITTED] |
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