This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Rue21, Inc. Announces Fourth Quarter And Fiscal Year 2012 Financial Results

Stocks in this article: RUE

Net Sales growth of 22.4% for Q4 2012

Adjusted EPS $0.65, a 25% increase from Q4 2011

Board of Directors Authorizes an Additional $25 Million for Share Repurchase Program

WARRENDALE, Pa., March 21, 2013 (GLOBE NEWSWIRE) -- rue21, inc. (Nasdaq:RUE) today announced its financial results for the fourth quarter and full fiscal year ended February 2, 2013.

Fourth Quarter Fiscal 2012 Summary:

For the fourth quarter of fiscal 2012, net sales increased 22.4% to $269.1 million from $219.9 million a year ago, including a comparable store sales increase for the quarter of 0.7% following a 2.2% decrease in the fourth quarter of fiscal 2011. The Company opened 17 new stores and closed 2 stores in the fourth quarter of fiscal 2012. Gross margin increased 110 bps to 37.6% for the quarter, driven by improved merchandise margin of 70 basis points and leverage of expenses. Net income and diluted earnings per share (EPS) for the fourth quarter were impacted by non-recurring professional fees of $1.2 million. On a GAAP basis, net income increased 16.4% and EPS were $0.62 versus $0.52 in the fourth quarter of 2011. Adjusting out non-recurring professional fees in this year's fourth quarter, net income increased by 22.4% and adjusted EPS were $0.65 versus $0.52 in the fourth quarter of fiscal 2011. A reconciliation of GAAP to non-GAAP financial measures is included in the schedules accompanying the consolidated financial statements included with this release.

Bob Fisch, rue21's President and CEO, stated: "Fiscal 2012 was another year of consistent top and bottom line growth for rue21, including record gross margin and double-digit growth in net income. We continue to focus on the qualities that make rue21 appealing to our customers and our financial returns attractive for our shareholders: offering current fashion at every day great value, executing on our strategic square footage growth, and methodically delivering productivity and profitability gains every quarter."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs