Aeropostale records $52.54 million loss for 13 weeks ended April 30

By Caroline Salls

Pittsburgh, July 13 – Aeropostale, Inc. reported a $52.54 million loss from operations for the 13 weeks ended April 30 on $298.64 million in net sales, according to a 10-Q filed Wednesday with the Securities and Exchange Commission.

In comparison, Aeropostale posted a $40.46 million loss from operations for the 13 weeks ended May 2, 2015 on $318.64 million in net sales.

According to the 10-Q, the 6% year-over-year decline of net sales resulted from declines in average square footage related to store closures and a comparable sales decrease of 4%.

Specifically, the company said the net sales decline reflects a decrease of $11.1 million in comparable sales, a decrease of $9 million in non-comparable sales and a $100,000 increase in international licensing revenue.

The net loss for the latest period was $58.42 million, widening from a $45.27 million net loss for the same period of 2015.

The company had $21.16 million in cash and cash equivalents as of April 30, down from $65.1 million as of Jan. 30 and $75.95 million as of May 2, 2015.

Aeropostale, a New York-based young adult clothing retailer, filed for bankruptcy on May 4 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 16-11275.

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