NEW YORK (TheStreet) -- Shares of Aeropostale (ARO) were taking a hit, sharply down 18.92% to $2.10 on heavy volume in after-hours Thursday, following the release of the struggling teen apparel retailer's first quarter financial results after the closing bell.
For its fiscal first quarter, the company posted a loss of $45.3 million, or a loss of 56 cents per share on revenue of $318.6 million.
Both the top and bottom line fell short of Wall Street expectations.
The company was expected to report a loss of 55 cents per share on revenue of $325 million for the period, according to analysts polled by Thomson Reuters.
In the same quarter of last year, Aeropostale posted a loss of 52 cents per share on revenue of $395.9 million.
The teen retailer reported comparable sales, including the e-commerce channel, decreased by 11% for the quarter.
Looking ahead, Aeropostale sees second quarter 2015 loss of between 60 cents to 52 cents per share, worse compared to the consensus estimate for a loss of 37 cents per share.
Shares closed at $2.59 in Thursday's regular session.
About 2.5 million shares have exchanged hands as of 4:10 p.m. ET today, compared to its average trading volume of about 1.11 million shares a day.
New York City-based Aeropostale is a mall retailer of casual apparel and accessories for teenagers and younger kids.
The company operates 949 Aeropostale stores in the U.S. and Canada.
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: