Tags: Aeropostale | Shares | Forecast | Disappoints

Aeropostale Shares Fall as Forecast Disappoints

Wednesday, 04 Dec 2013 05:57 PM

Apparel retailer Aeropostale Inc. forecast a much bigger-than-expected loss for the holiday-shopping quarter as it struggles to keep up with the tastes of young shoppers, sending its shares down 4 percent in extended trading Wednesday.

Aeropostale, under pressure from some investors to sell itself, also reported its fourth straight quarterly loss.

The company said it expects a fourth-quarter loss of 24-32 cents per share. Analysts on average were expecting a loss of 8 cents per share, according to Thomson Reuters I/B/E/S.

Aeropostale has been trying to offer more fashionable products in addition to its standard hoodies, jeans and T-shirts. However, it has been hit along with rivals by heavy discounting going into the holiday shopping season.

On Nov. 26, the company adopted a poison pill that would be triggered if a stockholder buys 10 percent of the company.

Aeropostale reported a net loss of $25.6 million, or 33 cents per share, for the third quarter ended Nov. 2, compared with a profit of $24.9 million, or 31 cents per share, a year earlier.

On an adjusted basis, the company reported a loss of 29 cents per share.

Sales fell 15 percent to $514.6 million.

Analysts on average had expected a loss of 24 cents per share, on revenue of $520.2 million.

Aeropostale's shares were at $9 in extended trading after falling 3.9 percent to close at $9.36 on the New York Stock Exchange on Wednesday.

© 2017 Thomson/Reuters. All rights reserved.

 
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Apparel retailer Aeropostale Inc. forecast a much bigger-than-expected loss for the holiday-shopping quarter as it struggles to keep up with the tastes of young shoppers, sending its shares down 4 percent in extended trading Wednesday.
Aeropostale,Shares,Forecast,Disappoints
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2013-57-04
Wednesday, 04 Dec 2013 05:57 PM
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