By
Reuters
Published
Aug 20, 2010
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Aeropostale profit matches Street view

By
Reuters
Published
Aug 20, 2010

LOS ANGELES, Aug 19 (Reuters) - Teen clothing retailer Aeropostale Inc (ARO.N) posted higher net income on Thursday that matched Wall Street's expectations, and forecast flat to higher third-quarter earnings compared with last year.

Aeropostale
www.aeropostale.com

The company expects earnings this quarter to be 61 cents to 63 cents per share, including a 4-cent per share charge related to a retirement plan payment to its chairman and former chief executive officer.

Second-quarter net income was $43.6 million, or 46 cents per share, matching analysts's average target, according to Thomson Reuters I/B/E/S. A year earlier, the retailer had a profit of $38.6 million, or 38 cents per share.

Sales rose 9 percent to $494.7 million, helped by a 4 percent rise in same-store sales.

Aeropostale has maintained its position as one of the few winners in the teen market as it heads into the back-to-school season. The company relies on low prices and quick delivery of new merchandise to help it stay ahead of rivals.

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