Aéropostale, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended January 31, 2015; Announces Intangible Asset Impairment for the Fourth Quarter Ended January 31, 2015; Provides Earnings Guidance for the First Quarter of 2015; Reiterates Capital Expenditure Guidance for 2015; Plans to Open Approximately One Aeropostale Store; Plans to Close Approximately 50 to 75 Aeropostale Stores and One P.S. Store
Mar 12 15
Aéropostale, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended January 31, 2015. For the quarter, the company reported net sales of $593,761,000 compared to $670,007,000 a year ago. Loss from operations was $13,965,000 compared to $79,874,000 a year ago. Loss before income taxes was $16,940,000 compared to $80,082,000 a year ago. Net loss was $13,534,000 or $0.17 per basic and diluted share compared to $70,306,000 or $0.90 per basic and diluted share a year ago. Adjusted net income was $417,000 or $0.01 per diluted share compared to adjusted net loss of $27,092,000 or $0.35 per diluted share a year ago. Excluding the aforementioned charges, an operating profit was $3.7 million. Capital expenditures for the fourth quarter of 2014 were approximately $3 million and depreciation, and amortization was approximately $11 million. Comparable sales for the quarter decreased 9% versus the prior year.
For the year, the company reported net sales of $1,838,663,000 compared to $2,090,902,000 a year ago. Loss from operations was $213,138,000 compared to $185,206,000 a year ago. Loss before income taxes was $221,921,000 compared to $186,119,000 a year ago. Net loss was $206,458,000 or $2.62 per basic and diluted share compared to $141,831,000 or $1.81 per basic and diluted share a year ago. Adjusted net loss was $111,961,000 or $1.42 per diluted share compared to $88,719,000 or $1.13 per diluted share a year ago. Excluding the aforementioned charges, an operating loss of $113.4 million.
For the quarter, the company reported intangible asset impairment of $5,100,000.
For the first quarter of fiscal 2015, the company expects operating losses in the range of $39 million to $45 million, which translates to a net loss in the range of $0.53 to $0.61 per diluted share. The effective tax rate for the first quarter of fiscal 2015 is projected to be approximately 0%. This outlook does not include the impact of any store impairments, accelerated store closure costs, or real estate consulting fees. This guidance assumes a low double-digit comparable sales decline, gross margin expansion year-over-year and SG&A dollars down approximately 9% versus last year due to cost savings initiatives and tight expense controls. The company currently expect depreciation and amortization of approximately $10 million and pro forma tax rate of approximately 0 and shares outstanding of 79.2 million.
The company reiterates its expectation to invest approximately $16 million in fiscal 2015 primarily related to certain infrastructure investments and store remodels.
For fiscal 2015, the company plans to open approximately one Aeropostale store and remodel, either partially orc fully, approximately 13 Aeropostale stores.
Currently, the company is considering potentially closing approximately 50 to 75 Aeropostale stores and one P.S. store.
Aeropostale Announces Sales Results for the Fourth Quarter of 2014; Revises Earnings Guidance for the Fiscal Fourth Quarter of 2014
Feb 9 15
Aeropostale announced sales results for the fourth quarter of 2014. For the quarter, the company announced that its net sales fell 11% to $594.5 million in its fourth quarter of 2014 from $670 million in the year ago quarter, while comparable sales, including e-commerce, were down 9% against 15% decrease last year.
The company announced that it is now expecting an adjusted loss of 1 cent to 6 cents per share for the fiscal fourth quarter of 2014. It had earlier projected a loss of 25 cent to 31 cents per share. Based on better than expected sales, margins, and expense management for the month of January, the company now expects an operating (loss)/profit for the fourth quarter of fiscal 2014 in the range of approximately to negative $2.0 million to $2.0 million, which translates to a net loss in the range of approximately $0.06 to $0.01 per diluted share based on the company's originally estimated tax rate of approximately 4.0%. This revised outlook compares to the company's previously issued guidance of operating losses in the range of $18.0 to $23.0 million, which translated to a net loss in the range of approximately $0.25 to $0.31 per diluted share.
Aéropostale, Inc. Announces Executive Changes
Feb 9 15
Aeropostale, Inc. announced two executive appointments that realign responsibilities and strengthen its leadership team. The management appointments are Marc D. Miller, Executive Vice President and Chief Financial Officer, has been appointed Executive Vice President and Chief Operating Officer. Mr. Miller joined Aeropostale in 2005 as Vice President of Strategic Planning and New Business Development and was promoted to Group Vice President in 2006, Senior Vice President in 2007 and appointed Chief Financial Officer in 2010. In his new role, Mr. Miller will be responsible for all aspects of supply chain management, including production, planning and allocation, and logistics, real estate and construction. He will also be responsible for human resources, and continue to be responsible for strategic planning and new business development, including international licensing. In his new role, Mr. Miller will continue to report to Julian R. Geiger, Chief Executive Officer. David J. Dick will join the Company as Senior Vice President and Chief Financial Officer on February 17, 2015. From 2009 to 2014, Mr. Dick served as the Senior Vice President, Chief Financial Officer and Treasurer of dELiAs, Inc., after serving as Vice President, Controller and Chief Accounting Officer of the retailer from 2008 to 2009. Prior to that, Mr. Dick was the Chief Financial Officer of Charlie Brown'sAcquisitions Corp. Mr. Dick will report to Julian R. Geiger, Chief Executive Officer.