Aeropostale Reports Results For First Quarter Of Fiscal 2015

Aeropostale, Inc. (NYSE: ARO), a mall-based specialty retailer of casual apparel for young women and men, today reported results for the first quarter of fiscal 2015, and provided guidance for the second quarter of fiscal 2015.

For the first quarter of fiscal 2015, net sales decreased 20% to $318.6 million, from $395.9 million in the year ago period. Comparable sales, including the e-commerce channel, for the first quarter decreased 11%, compared to a decrease of 13% for the corresponding 13-week period ended May 3, 2014.

The Company reported a net loss for the first quarter of fiscal 2015 of $45.3 million, or $0.57 per diluted share, which included:
an after-tax charge of $2.3 million, or $0.03 per diluted share, resulting from store closing costs, partially offset by
an after-tax benefit of $1.1 million, or $0.02 per diluted share, resulting from a retirement plan settlement adjustment.

Excluding the aforementioned charges, the Company reported an adjusted net loss of $44.0 million, or $0.56 per diluted share in the first quarter of fiscal 2015 (see Exhibit C).

The Company reported an operating loss for the first quarter of fiscal 2015 of $40.5 million or, excluding the aforementioned charges, an adjusted operating loss of $39.3 million (see Exhibit C).

Julian R. Geiger, Chief Executive Officer, commented, “As we anticipated, the first quarter of 2015 represented a period of transition for us.  We worked our way through a number of issues, including a merchandise assortment that was not consistent with our future direction, unseasonably cool weather, and the West Coast port slowdown.  However, the performance of our women’s division exceeded our expectations, and we were encouraged by the demand we were able to create through certain key items and promotions.”
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