Specialty apparel retailer Aeropostale Inc. (ARO) Thursday reported first-quarter net loss of $12 million or $0.16 per share, compared with net income of $10.6 million or $0.13 per share last year.
Net sales for the quarter slid 9% to $452 million from $497 million a year ago.
Analysts polled by Thomson Reuters estimated a loss of $0.17 per share on revenues of $444.26 million for the quarter. Analysts' estimates typically exclude special items.
Comparable sales, including the e-commerce channel, for the quarter fell 14%, compared to the prior year.
"As we had anticipated, our first quarter performance reflected an increase in promotional activity as we cleared through carryover inventory from the fourth quarter. In addition, we were impacted by a weak macroeconomic environment, as well as unseasonably cool weather," said CEO Thomas Johnson.
Looking ahead to the second quarter, the company expects to report a loss of $0.20 to $0.15 per share. Analysts currently expect a loss of $0.06 per share.
"Our second quarter guidance reflects limited visibility as we head into the initial back-to-school selling period, as well as the uncertainty regarding the overall macroeconomic environment," said CEO Johnson.
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