Aeropostale 1Q net sales up 22%

NEW YORK Aeropostale reported net sales of $336.3 million for the first quarter of fiscal 2008, ended May 3, a 22% increase from last year's $275.8 million. Same-store sales increased 10%, compared to an increase of 3% in the year prior period.

Net income came in at $17.5 million, or 26 cents per diluted share, for the quarter, compared to $13.8 million, or 18 cents per diluted share in the year prior period.

"We are thrilled with our record first quarter performance and solid start to fiscal 2008," stated Julian R. Geiger, chairman and ceo. " ... During the quarter, we remained committed to striking the right balance between fashion and value, while appropriately managing our inventory levels."

The company announced an earnings guidance for the second quarter in the range of 22 cents to 24 cents per diluted share.

"We are very pleased with the momentum that we are generating and the strength, vitality and transportability of the Aeropostale brand," continued Geiger. "We also continue to make progress with our growth initiatives, and we remain excited about the future opportunities to maximize our long-term profitability."