Aeropostale, Inc. (ARO), a specialty retailer of casual apparel and accessories, targeting young women, men and children, recently announced an authorization by its Board of Directors Incorporatedreasing its share repurchase program by $250 million. This brings the total share repurchase program to $850 million, since its inception in November 2003.

Including the current authorization, the retailer has approximately $290 million at its disposal under the repurchase program.

Aeropostale, the mall-based retailer, had also recently reported record third quarter 2009 results. Quarterly earnings of 92 cents a share surpassed the Zacks Consensus Estimate by a penny and surged 46% from 63 cents delivered in the prior-year quarter. It now expects fourth-quarter 2009 earnings between $1.20 and $1.24 per share.

Revenues for the quarter rose 18% year over year to $567.8 million, reflecting a comparable-store sales increase of 10% as against 7% posted in the year-ago quarter.

Total Sales for November 2009, climbed 14% to $228 million, whereas comps rose 7% versus a decline of 5% registered in the year-ago period.

Aeropostale currently operates 954 stores and principally focuses on young women and men in the age bracket of 14 years to 17 years, and kids in the age group of 7 years to 12 years.

Aeropostale has fared better than other apparel retailers who found themselves struggling in a weak consumer environment and has reported sluggish sales and deteriorating comps.

Abercrombie & Fitch Co. (ANF) recently posted a 22% decline in third-quarter comparable-store sales, whereas comps at American Eagle Outfitters, Inc. (AEO) fell 4%.

Zacks Investment Research

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