Aeropostale swings to big loss in Q3
New York — Aeropostale reported a loss of $25.6 million for its fiscal third quarter, compared to a profit of $25 million in the same period last year.
Sales dropped 15% to $514.6 million, from $605.9 million in the year-ago period. Same-store sales also decreased 15%.
"Our comparable sales decline was in-line with our year-to-date trend, and we were more promotional than anticipated in order to strengthen our inventory position going into the fourth quarter,” said Thomas P. Johnson, CEO. “…We were disappointed in our overall performance as customer adoption is occurring more slowly than we would like against the backdrop of a challenging teen retail environment."
For fiscal 2014, the company said it plans to open 11 Aeropostale stores, five P.S. from Aeropostale stores, remodel 26 Aeropostale stores, and close 40 to 50 Aeropostale stores.
Guess Q3 profit dips
Los Angeles — Guess Inc. saw profit in the third quarter dip 3.4% to $35.4 million, from $36.6 million for the third quarter last year. Results, however, surpassed company expectations.
"We are pleased to report better than expected third quarter earnings. We delivered revenues within the range of our expectations and through our continued focus on cost control have been able to deliver profitability at the high end of our expectations,” said Paul Marciano, CEO.
Third-quarter sales fell 2.4% to $613.5 million, from $628.8 million in the prior-year quarter. In constant currency, total net revenue decreased 4.1%. Same-store sales dropped 5%.
New York & Co. narrows loss in Q3
New York — New York & Co. reported a loss of $3.4 million for the quarter ended Nov. 2, compared with a loss of $3.8 million in the same period last year.
Sales fell to $217.6 million, from $219.3 million, and same-store sales increased 3%.