AEROPOSTALE INC. $3.07 (New York symbol ARO; TSINetwork Rating: Extra Risk) (646-485-5410; www.aeropostale.com; Shares outstanding: 79.1 million; Market cap: $228.6 million; No dividends paid) is a mall-based retailer of casual clothing and accessories.
The company now has 923 stores in the U.S., Canada and Puerto Rico that mainly target 14- to 17-yearold women and men. Its 147 P.S. from Aeropostale stores in the U.S. are aimed at seven- to 12-year-old children.
In the three months ended August 2, 2014, Aeropostale’s sales fell 12.7%, to $396.2 million from $454.0 million a year earlier. Same-store sales declined 13%, compared to a 15% decline a year ago.
Excluding one-time items, Aeropostale lost $0.46 a share in the latest quarter, compared to a $0.34-a-share loss a year earlier.
The company continues to face intense competition from other teen-clothing retailers. To restore its profitability, it plans to better market its products and keep cutting costs and refreshing its clothing lines. It’s also closing underperforming stores, including 125 P.S. from Aeropostale locations.
In addition, Aeropostale has rehired Julian Geiger, who was its CEO from 1998 to 2010 and remained as chairman until 2012. A number of private equity firms now hold interests in the company, including Sycamore Partners, which pushed for Geiger’s rehiring as part of an arrangement to lend Aeropostale $150 million earlier this year.
The company will likely be able to repeat its past success at attracting customers, but its sales may remain weak in the near term.
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