Aéropostale, US-based specialty retailer of casual apparel for young women and men, has unveiled results for the fourth quarter of the current fiscal. Operating loss for the quarter ending January 30, 2016 surged to US $ 18.5 million compared to US $ 14 million in the corresponding quarter last year. The brand noted a net loss of US $ 21.7 million, or US $ 0.27 per diluted share as against the net loss of US $ 13.5 million, or US $ 0.17 per diluted share last year.
In the period under review, net sales plunged 16.1 per cent to US $ 498 million from US $ 593.8 million in the same period last year. Comparable sales, including the e-commerce channel, too dropped by 6.7 per cent.
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Julian R. Geiger, CEO of the company said, “Our fourth quarter of fiscal 2016 adjusted operating loss of US $ 7.6 million was within our previously issued guidance. Additionally, the initial reaction to both our Spring product and our two-chain Factory and mall strategy is very encouraging with comparable sales turning positive since our Factory Chain launch at the end of February.”
Besides, the clothier closed down 13 Aéropostale stores in the reporting quarter, and invested US $ 1.8 million in planned capital expenditures, the company release mentions.
