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Aeropostale net income drops by two-thirds in Q4; to open net 38 stores this year
New York -- Aeropostale Inc. reported Thursday that profit for the quarter ended Jan. 28 dropped to $26.1 million, from $83.8 million a year earlier, hurt by heightened supply-chain expenses.
Revenue dipped 4% to $808.4 million in the quarter, and same-store sales fell 9%. Results edged Wall Street’s expected $807.6 million in revenue.
For the full fiscal year 2011, Aeropostale posted a profit of $69.5 million, compared with $231.3 million last year. Revenue to $2.34 billion, from $2.40 billion in fiscal 2010.
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Acquisitions are lowest priority for international growth
Although Walmart International has completed three acquisitions during the past 12 months, it is actually the least preferred method of growth, according to international division CFO Cathy Smith. Just imagine if acquisitions were the top priority.
Smith’s comments about acquisitions came earlier this week at a Raymond James and Associates investor conference where she appeared with treasurer Jeff Davis and detailed four dimensions of Walmart’s international growth strategy.