NEW YORK (TheStreet) -- Shares of Aeropostale Inc. (ARO) are higher by 11.88% to $3.62 in mid-morning trading on Tuesday, following yesterday afternoon's announcement that Julian Geiger would be returning to the struggling company as CEO, in order to attempt to turn the company around following six straight quarters of losses, Bloomberg reported.
The current CEO of the kids and teens clothing retailer, Thomas Johnson, agreed to step down as director and CEO, the company said, as Aeropostale attempts regain profits.
In April, the company announced the closing of 125 of its P.S Kids stores, which cut almost 100 jobs, Bloomberg added.
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Aeropostale also issued an update on its second quarter 2014 outlook, expecting an operating loss of approximately -$61 million to -$64 million, translating to a net loss in the range of -80 cents to -83 cents per diluted share.
The company's adjusted operating loss is forecast to be between -$36 million to -38 million, or -42 cents to -45 cents per diluted share, compared to Aeropostale's previous guidance of losses in the range of -$49 million to -$54 million, or -55 cents to -61 cents per diluted share.
Aeropostale will announce its second quarter earnings results on Thursday, August 21 after the close.
Separately, TheStreet Ratings team rates AEROPOSTALE INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation: