Aeropostale net sales down 12 percent in Q1

REPORT_ For the first quarter of fiscal 2014, net sales decreased 12 percent to 395.9 million dollars, from

452.3 million dollars in the year ago period. Comparable sales, including the e-commerce channel, for the first quarter decreased 13 percent, compared to a decrease of 14 percent for the corresponding 13-week period ended May 4, 2013. Net revenues from the company's e-commerce business for the first quarter of fiscal 2014 decreased 18 percent to 34.3 million dollars, from 41.9 million dollars in the year ago period.

The company headquartered in New York reported a net loss for the first quarter of fiscal 2014 of 76.8 million dollars, or 0.98 dollars per diluted share. The company reported a net loss of 12.2 million dollars, or 0.16 dollars per diluted share, for the first quarter of 2013. The company reported an adjusted net loss of 41.1 million dollars, or 0.52 dollars per diluted share in the first quarter of fiscal 2014.

Commenting on the results, Thomas P. Johnson, Chief Executive Officer, said, “As other retailers experienced, the macroeconomic environment was challenging during the first quarter with aggressive promotions, lower mall traffic, and unseasonable weather. While our overall results were disappointing, we were able to exceed guidance and end the quarter with inventories well-controlled.”

The company closed 18 Aeropostale stores during the quarter and one P.S. from Aeropostale store. For the second quarter of fiscal 2014, the company expects operating losses in the range of 49 to 54 million dollars, which translates to a net loss in the range of 0.55 dollars to 0.61 dollars per diluted share.