Aeropostale Reports Profit Surge, Plans New Stores in 2010
The Wall Street Journalreports that Aeropostale Inc.'s third-quarter profits soared 47%. They also reported a 10% rise in same-store sales during Black Friday. Aeropostale's discounting has helped it lure in new shoppers during the recession.
The teen retailer also said it had gotten off to a strong start to the holiday season, with a 10% rise in same-store sales on the two days following Thanksgiving. Aeropostale said it expects earnings to come in at $1.20 to $1.24 for the key fourth quarter.
Aeropostale said same-store sales, or sales at stores open at least a year, rose 7% in the four weeks ended Nov. 28, with total net sales rising 14%, to $228 million. The same-store sales missed the 7.7% average increase analysts expected.
The WSJ says Aeropostale plans to open about fifty stores in 2010, including 25 Aeropostale stores and 25 to 30 P.S. from Aeropostale stores. They will also be remodeling 40 stores.
The Wall Street Journal 
