Teen apparel retailer Aeropostale Inc. (ARO) said Thursday that same store sales rose 13% in August from a year ago. Net sales for the month climbed 24% from the prior-year period.
A weak economy, combined by rising food and gasoline prices, have put significant pressure on consumers. Teen chains too have felt the pressure from the weakening economy on account of lower spending by teenagers. However, value-priced chains like Aeropostale have fared better than higher-priced competitors.
August Sales
The New York-based company's net sales for the four-week period ended September 1, 2008, climbed 24% to $207.9 million from $168.2 million a year ago.
Comparable sales for the month increased 13% from the prior-year period. In the year-ago period, the company reported a 2% increase in same store sales.
Peer Performance Among the company's peers, American Eagle Outfitters Inc. (AEO) reported a 5% decline in comparable store sales for August, compared to a 9% increase in the same period last year. Total sales for the month increased 3% to $320.0 million from $311.3 million in the same period last year.
Pacific Sunwear of California Inc. (PSUN) said that its same-store sales for the month of August decreased 6% from last year. Net sales for the period declined 4% to $163.1 million from $170 million in the same period of the prior year.
Year-To-Date Period
For the year-to-date period, Aeropostale's same store sales increased 11% from the year-ago period. Net sales for the period climbed 22% to $921.4 million from $755.2 million in the same period last year.
Last month, Aeropostale reported a 13% growth in same store sales for July, compared to a decrease of 12% in the year-ago period. Total net sales for the month increased 24% to $138.8 million from $111.7 million in the same period last year.
Aeropostale currently operates 850 Aéropostale stores in 48 states and Puerto Rico, 23 Aéropostale stores in Canada and 14 Jimmy'Z stores in 11 states.
Stock Quotes
In Thursday's regular trading session, ARO is currently trading at $35.61, down $0.33 or 0.92% on a volume of 1.05 million shares. The stock has been trading in a range of $18.29-$37.40 in the past 52 weeks.
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