Aeropostale Reports Record Third 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[micro] -- Earnings Per Share of $0.55 Versus Earnings Per Share of $0.37
Last Year, An Increase of 48.6%
A[micro] -- Revenues Increase 24.8% Versus Prior Year
A[micro] -- Additional $30.0 Million for Stock Repurchase Program
Authorized; Total Program $100.0 Million
Aeropostale, Inc. (NYSE:ARO), a mall-based specialty A contract under seal. A specialty is a written document that has been sealed and delivered and is given as security for the payment of a specifically indicated debt. retailer of active and casual apparel for the teen market, today reported record results for the fiscal third quarter ended October October: see month. 30, 2004. Net income for the quarter ended October 30, 2004 was $31.7 million or $0.55 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 versus net income of $21.9 million or $0.37 per diluted share in the comparable quarter in the prior year. The Company noted that the reported earnings exceeded the Company's previously issued guidance and the current First Call consensus estimate of $0.54 per diluted share. 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 quarter ended October 30, 2004 increased 24.8% to $274.6 million versus $220.1 million in the comparable period. Comparable store sales for the third quarter of fiscal 2004 increased 5.4% versus an increase of 5.2% in the same period in the prior year. The Company also announced that its board of directors approved an increase in its common stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program to acquire an additional $30.0 million of its outstanding common stock. This increased the total repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. program to $100.00 million. As of October 30, 2004, the Company had purchased back approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $56.8 million (2.5 million shares) under the repurchase program. 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 very pleased to report another excellent quarter, once again exceeding expectations. Our unique combination of highly effective promotional strategies, careful inventory control and fashion-right 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 has enabled us to report record earnings". The Company also updated guidance for the fourth quarter today. The Company is now comfortable with the current consensus of $0.63 per diluted share, compared to earnings of $0.47 per diluted share in the year ago quarter. The Company also believes it will achieve sales in the range of $335.0 million to $340.0 million, based on low to mid 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. Mr. Geiger concluded, "Our current base of 560 stores is operating at productivity levels in excess of $500 per square foot. We have grown quickly in the last six years and we believe we have an opportunity for continued aggressive growth and to operate as many as 1,000 profitable Aeropostale stores ultimately." The Company will be holding a conference call today at 4:15 P.M. to review its fiscal 2004 third 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. (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 high-energy adj. 1. Of or relating to elementary particles with energies exceeding hundreds of thousands of electron volts. 2. Yielding a large amount of energy upon undergoing chemical reaction. 3. Vigorous; dynamic. 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 560 stores in 43 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)
Oct. 30, Jan. 31, Nov. 1,
2004 2004 2003
--------- --------- ---------
ASSETS
Current Assets:
Cash and cash equivalents $120,660 $138,356 $78,529
Merchandise inventory 114,515 61,807 113,447
Other current assets 21,808 12,284 17,630
--------- --------- ---------
Total current assets 256,983 212,447 209,606
Fixtures, equipment and improvements,
net 121,845 92,578 92,326
Other assets 3,527 2,023 9,528
--------- --------- ---------
TOTAL ASSETS $382,355 $307,048 $311,460
========= ========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $69,075 $30,477 $54,350
Accrued expenses 39,837 41,091 35,816
--------- --------- ---------
Total current liabilities 108,912 71,568 90,166
Other non-current liabilities
64,004 49,787 49,109
Stockholders' equity 209,439 185,693 172,185
--------- --------- ---------
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $382,355 $307,048 $311,460
========= ========= =========
EXHIBIT B
AEROPOSTALE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND
SELECTED STORE DATA
(in thousands, except per share and store data)
13 weeks ended
-----------------------------------
October 30, 2004 November 1, 2003
----------------- -----------------
% of % of
sales sales
------ ------
Net sales $274,616 100.0% $220,071 100.0%
Cost of sales (including certain
buying, occupancy and warehousing
expenses) 176,415 64.2 146,149 66.4
---------- ------ ---------- ------
Gross profit
98,201 35.8 73,922 33.6
Selling, general and administrative
expenses 46,775 17.0 38,123 17.3
---------- ------ ---------- ------
Income from operations
51,426 18.8 35,799 16.3
Interest income, net
336 0.1 65 -
---------- ------ ---------- ------
Income before income taxes
51,762 18.9 35,864 16.3
Income taxes
20,076 7.4 13,986 6.4
---------- ------ ---------- ------
Net income
$31,686 11.5% $21,878 9.9%
========== ====== ========== ======
Basic net income per share $0.57 $0.39
========== ==========
Diluted net income per share $0.55 $0.37
========== ==========
Basic weighted average number of
shares outstanding* 55,894 55,761
Diluted weighted average number of
shares outstanding* 57,210 58,754
STORE DATA:
Comparable store sales 5.4% 5.2%
Stores open at end of period 560 460
Total gross square footage at end
of
period 1,970,109 1,613,999
A[micro] * as adjusted for 3-for-2 stock split effected April 26, 2004
EXHIBIT C
AEROPOSTALE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND
SELECTED STORE DATA
(in thousands, except per share and store data)
39 weeks ended
------------------------------------
October 30, 2004 November 1, 2003
------------------ -----------------
% of % of
sales sales
------- ------
Net sales $637,122 100.0% $462,226 100.0%
Cost of sales (including certain
buying, occupancy and warehousing
expenses) 430,328 67.5 322,472 69.8
---------- ------- ---------- ------
Gross profit
206,794 32.5 139,754 30.2
Selling, general and
administrative expenses 127,805 20.1 96,432 20.9
---------- ------- ---------- ------
Income from operations
78,989 12.4 43,322 9.3
Interest income, net
796 0.1 499 0.1
---------- ------- ---------- ------
Income before income taxes
79,785 12.5 43,821 9.4
Income taxes
30,941 4.8 17,089 3.6
---------- ------- ---------- ------
Net income
$48,844 7.7% $ 26,732 5.8%
========== ======= ========== ======
Basic net income per share $0.88 $0.49
========== ==========
Diluted net income per share $0.85 $0.46
========== ==========
Basic weighted average number of
shares outstanding* 55,792 54,312
Diluted weighted average number of
shares outstanding* 57,399 58,202
STORE DATA:
Comparable store sales 12.8% 5.4%
A[micro] * as adjusted for 3-for-2 stock split effected April 26, 2004
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion