In its second-largest acquisition, Amazon buys the company for $970 million.
E-commerce grew 19% while store and total sales declined 1% and 9%, respectively.
Going into the all-important online holiday shopping season, e-commerce sales in the third quarter were up for specialty apparel chain retailer Aeropostale Inc. But the same couldn’t be said for comparable-store and total sales.
For the third quarter ended Oct. 29, Aeropostale, No. 110 in the Internet Retailer Top 500 Guide, reported:
- E-commerce sales increased 19.3% to $45.7 million from $38.3 million in the third quarter of 2010.
- Total sales decreased year over year 1% to $596.5 million from $602.8 million.
- Comparable-store sales declined 9%.
- Net income declined 58.8% year over year to $24.1 million from $58.5 million.
Internet Retailer calculates the web accounted for 7.7% of total sales compared with 6.4% in the third quarter of 2010.
“We are not satisfied with our overall performance, and we remain cautious in our outlook,” says CEO Thomas P. Johnson. “ The retail environment remains incredibly promotional with many teen retailers increasing both the depth and breadth of their promotions. Additionally, unemployment remains high and there is continued uncertainty about the overall economic environment.”
For the first three quarters:
- E-commerce sales increased 9.3% to $99 million from $83 million in the first three quarters of 2010.
- Total sales decreased year over year 1.9% to $1.53 billion to from $1.56 billion.
- Net income declined 70.6% year over year to $43.4 million from $147.5 million.
Internet Retailer calculates the web accounted for 6.5% of total sales compared with 5.3% in the first three quarters of 2010.