In its second-largest acquisition, Amazon buys the company for $970 million.
Same-store sales declined by 7% for the specialty apparel retailer.
Web sales outgrew total sales for Aeropostale Inc. in the first quarter of 2011.
For the quarter ended April 30, Aeropostale reported:
- E-commerce sales of $28.2 million, up by about 18.5% from $23.8 million in the prior year quarter.
- Total sales of $469.2 million, a 1.2% increase from $463.6 million.
- Comparable-store sales decreased 7%, compared with a same-store sales increase of 8% last year.
- Net income of $16.4 million, a 64% decrease compared with net income of $45.4 million in Q1 2010.
Internet Retailer calculates that online sales accounted for 6.0% of total sales for the quarter, compared with 5.1% in the same quarter last year.
“Our goals for the remainder of the year remain very clear—regain balance and clarity in our merchandise assortments, mitigate industrywide cost increases, and manage our cost structure conservatively and carefully,” says Thomas P. Johnson, CEO at Aeropostale, No. 110 in the Internet Retailer Top 500 Guide.
In addition to its e-commerce sites, Aeropostale.com and ps4u.com, the specialty retailer operates 914 Aeropostale stores in 49 states and Puerto Rico, 60 Aeropostale stores in Canada and 57 P.S. from Aeropostale stores in 16 states.