Julian Geiger, who has been CEO for Aeropostale since 1996, has announced he will step down from his post at the end of ARO's current fiscal year. The current Chief Merchandising Office, Mindy Meads, Chief Operating Officer, Tom Johnson, and CFO Michael Cunningham are to succeed Geiger as co-executives.
Aeropostale ended the fourth quarter of its fiscal year March 13, 2009 with a 17% increase in sales and a 6% increase in same-store sales. It's pricing has become very attractive for consumers trading down from more expensive brands such as Abercrombie & Fitch
Barclays analysts downgraded ARO stock after especially weak same-store sales increases. Same-store sales the week of November 2-8 increased by only 1%, less than the expected 2.9%. ARO had previously been doing much better than other retail companies as consumers flock to lower-priced brands, however its success seems to be slowing.
Aeropostale reported second quarter earnings of $0.31 per share. This beat last year's second quarter results of $0.19 per share by 65%
Aeropostale reported same store sales growth of 6.6% for the month of November, a key indicator of how the retailer is faring during the holiday shopping season. Aeropostale's 6.6% appear to be strong compared with same store sales growth at competing companies: 0% at American Eagle Outfitters and 2% at Abercrombie & Fitch.
Aeropostale's shares split 3:2 on August 22, 2007.
