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Aeropostale 2Q profit rises 43 percent



By AP
21 August 2008 @ 04:50 pm EST

NEW YORK - Teen apparel retailer Aeropostale Inc. said Thursday its second-quarter profit grew 43 percent as it saw a double-digit increase in same-store sales, and its results matched Wall Street expectations.

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For the three months ending Aug. 2, the retailer earned $21.1 million, or 31 cents per share, compared with a profit of $14.7 million, or 19 cents per share, during the same period last year.

Sales rose 21 percent to $377.1 million, from year-ago revenue of $311.2 million.

Analysts surveyed by Thomson Reuters expected the New York-based apparel retailer to earn 31 cents per share on revenue of $376.5 million.

"We are extremely pleased with our second quarter performance," Chairman and Chief Executive Julian R. Geiger said in a statement. "The ongoing strength of our merchandise assortments and our team's consistent execution led to another record quarter."

Same-store sales, or sales at stores open at least a year, rose 11 percent during the period. Same store sales are a key measure of retailer performance, because they measure growth at existing stores rather than from newly opened ones.

Aeropostale shares fell 25 cents to close the regular session at $34, and shed $1, or 2.9 percent to $33 in aftermarket trading.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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