Following on the heels of strong earnings results from Guess?, Inc. (GES) and Jos. A. Bank (JOSB), Aeropostale (ARO) and Collective Brands (PSS) also posted better-than-expected results Wednesday, lifting their shares.
Mall-based specialty retailer Aeropostale said earnings for its third quarter of fiscal 2009 increased 46% from a year ago to a record $0.92 per share. That compares to the $0.91 per share consensus estimate of analysts polled by Thomson Reuters. And for the quarter that ended October 31, net sales increased 18% to $567.8 million, also topping expectations. Aeropostale also said same-store sales for the quarter increased 10%.
The company predicts earnings in the range of $1.20 to $1.24 per share for the fourth quarter. Analysts, on average, are looking for $1.22 per share.
Collective Brands, which among other things is the parent of the Payless Shoe chain, reported that adjusted third-quarter earnings totaled $39.4 million, or $0.61 per share, up 51.5% from the year-ago quarter. Net sales for the three months that ended in October came to $867.0 million, up slightly from last year, while same-store sales increased 3.1%. Analysts had expected to see $0.49 per share on $847.6 million.
The company also said its retail store count is expected to fall by 55 in the coming year.
Collective Brands shares closed up less than 1% Wednesday to close at $20.17. Aeropostale closed at $32.70, up 1.5%.
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