For years, Aeropostale (ARO) tried to shed its value-conscious message. Well, good thing they couldn't -- because it's those consumer-friendly prices that continue to pay off for the teen retailer.
Aeropostale saw a whopping 81% surge in first-quarter profit to $31.7 million, or 47 cents a share, up from $17.5 million, or 26 cents, in the year-ago period.
The news sent shares up 4% to $33.80 in after-market trading.
Results include a pre-tax charge of 2 cents a share for the closure of the Jimmy 'Z concept.Sales jumped 21% to $408 million from $336.3 million last year, while total same-store sales shot up 11%. Looking forward, the company expects earnings in the range of 43 cents to 45 cents a share, compared with 31 cents in the second quarter last year. Last week, rival Abercrombie & Fitch (ANF)swung to a loss in its first quarter, and announced that it will conduct a strategic review of its Ruehl concept.
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