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Last Update: 29-Nov-12 08:43 ET
Aeropostale shares fall 7% following downside Q4 guidance
Aeropostale (ARO $13.10 -0.99) reported third quarter earnings of $0.31 per share, excluding non-recurring items, $0.02 better than the Capital IQ consensus Estimate of $0.29, while revenues rose 1.6% year/year to $605.9 million versus the $601.5 mln consensus. Comparable sales, including the e-commerce channel, for the third quarter decreased 1% compared to a 7% decrease last year. Comparable store sales, excluding the e-commerce channel, for the third quarter decreased 2%, compared to a 9% decrease last year. Net revenue from the Company's e-commerce business for the third quarter of fiscal 2012 increased 12% to $51.1 million, from $45.7 million in the year ago period. The company issued downside guidance for the fourth quarter with EPS of $0.36-0.41, excluding non-recurring items, versus the $0.54 consensus. "While our performance over the Black Friday weekend was encouraging, the environment during the first few weeks of November was challenging. As a result, we continue to be cautious for the remainder of the quarter given the inconsistency we are seeing in our business against the backdrop of a highly promotional environment. We will continue to focus on delivering on our strategic initiatives, managing our business conservatively, and ending the quarter with inventories well-controlled."
