NEW YORK - Aerpostale clipped down over 15% in early morning trade as the retailer announced disappointing results. While, the company said revenue increased 1%, same store sales declined 7%. Same store sales are often more important in the retail industry than revenue since it measures sales in stores that have existed for at least a year.
Thomas P. Johnson the CEO of ARO said "Clearly we are not satisfied with our sales and margin performance for the first quarter. We were more promotional than anticipated on our spring assortment and clearance merchandise. "
The company has changed its EPS projections from 20 cents a share from 35 cents to 38 cents.
To see the full ARO report click here.
Thomas P. Johnson the CEO of ARO said "Clearly we are not satisfied with our sales and margin performance for the first quarter. We were more promotional than anticipated on our spring assortment and clearance merchandise. "
The company has changed its EPS projections from 20 cents a share from 35 cents to 38 cents.
To see the full ARO report click here.
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