Net sales down 20% in Q3 FY15 at Aeropostale

Net loss reported for the quarter was $26.4 million or $0.33 per diluted share as compared to $52.3 million or $0.66 per diluted share in the corresponding quarter last fiscal. The operating loss reported for the quarter was $23.1 million as compared to $34.6 million in the corresponding quarter last fiscal.

Comparable sales decreased by 10 per cent in the third quarter of fiscal 2015 for the Aeropostale stores, including online stores.

Commenting on the losses, Julian Geiger, CEO of Aeropostale said, “Our results for the quarter led to an adjusted operating loss that was within our original guidance range and that demonstrated a $13 million improvement versus last year.”

“While we are disappointed with our sales performance, we learned a great deal from our first quarter under our new merchandising strategy and intend to build upon the areas of progress and improve our business further,” he added.

For the fourth quarter of fiscal 2015, the retailer expects operating losses in the range of $0.0 to $10.0 million, which translates to a net loss in the range of $0.04 to $0.17 per diluted share. (MCJ)

Fibre2Fashion News Desk – India