New York City Aeropostale reported its net income for the third quarter increased 47% to a record $62.6 million, compared with $42.6 million in the same period last year.
For the third quarter, total net sales increased 18% to $567.8 million, from $482.0 million in the year-ago period. Same-store sales for the third quarter increased 10%.
Meanwhile, the company reported its total net sales for the four-week period ended Nov. 28 increased 14% to $228.0 million, from $200.9 million for the same period last year. Same-store sales increased 7% for the month, compared with a decrease of 5% in the year-ago period. The company noted that its gross margins for the month increased over last year, and its inventories remain well controlled and on plan.
Aeropostale said it plans to invest approximately $70 million in capital for fiscal 2010 to open approximately 25 Aeropostale stores, approximately 25-30 P.S. from Aeropostale stores, and approximately 40 store remodels, in addition to certain information technology investments. This compares with capital expenditures of approximately $50 million in fiscal 2009.