Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K 12/7/09 - ARO Liquidation, Inc. | form8-kdec09.htm |
Exhibit
99.1
AÉROPOSTALE
ANNOUNCES $250.0 MILLION INCREASE
TO
ITS SHARE REPURCHASE PROGRAM
New York, New York – December 7,
2009 - Aéropostale, Inc. (NYSE: ARO), a mall-based specialty retailer of
casual and active apparel for young women and men, today announced that the
Company’s Board of Directors has authorized a $250.0 million increase in the
Company’s share repurchase program bringing the total share repurchase program,
since inception, to $850.0 million.
With this
most recent increase in repurchase authorization, the Company has approximately
$290.0 million of repurchase authorization remaining under the Company’s
repurchase program.
Julian R.
Geiger, Chairman and Chief Executive Officer, said, “The repurchase of our
common stock at current price levels is a highly attractive use of our capital
as well as an ideal means by which to return additional value to our
shareholders. The program reflects our continued confidence in the long-term
prospects for our business and our future growth opportunities.”
About Aéropostale,
Inc.
Aéropostale,
Inc. is a mall-based, specialty retailer of casual apparel and accessories,
principally targeting 14 to 17 year-old young women and men through its
Aéropostale® stores and 7 to 12 year-old kids through its P.S. from Aéropostale™
stores. The Company provides customers with a focused selection of high-quality,
active-oriented, fashion and fashion basic merchandise at compelling values.
Aéropostale® maintains control over its proprietary brands by designing,
sourcing, marketing and selling all of its own merchandise. Aéropostale®
products can only be purchased in its Aéropostale stores and online at
www.aeropostale.com. P.S. from Aéropostale™ products can be purchased in P.S.
from Aéropostale™ stores and online at www.ps4u.com. The Company currently
operates 896 Aéropostale stores in 49 states and Puerto Rico, 44 Aéropostale
stores in Canada and 14 P.S. from Aéropostale stores in five
states.
SPECIAL
NOTE: THIS PRESS RELEASE AND ORAL STATEMENTS MADE FROM TIME TO TIME BY
REPRESENTATIVES OF THE COMPANY CONTAIN CERTAIN "FORWARD-LOOKING STATEMENTS"
CONCERNING EXPECTATIONS FOR SALES, STORE OPENINGS, GROSS MARGINS, EXPENSES,
STRATEGIC DIRECTION AND EARNINGS. ACTUAL RESULTS MIGHT DIFFER
MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. AMONG THE
FACTORS THAT COULD CAUSE ACTUAL RESULTS TO MATERIALLY DIFFER INCLUDE, CHANGES IN
THE COMPETITIVE MARKETPLACE, INCLUDING THE INTRODUCTION OF NEW PRODUCTS OR
PRICING CHANGES BY OUR COMPETITORS, CHANGES IN THE ECONOMY AND OTHER EVENTS
LEADING TO A REDUCTION IN DISCRETIONARY CONSUMER SPENDING; SEASONALITY; RISKS
ASSOCIATED WITH CHANGES IN SOCIAL, POLITICAL, ECONOMIC AND OTHER CONDITIONS AND
THE POSSIBLE ADVERSE IMPACT OF CHANGES IN IMPORT RESTRICTIONS; RISKS ASSOCIATED
WITH UNCERTAINTY RELATING TO THE COMPANY'S ABILITY TO IMPLEMENT ITS GROWTH
STRATEGIES, AS WELL AS THE OTHER RISK FACTORS SET FORTH IN THE COMPANY'S FORM
10-K AND QUARTERLY REPORTS ON FORM 10-Q, FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE OR REVISE ANY
FORWARD-LOOKING STATEMENTS TO REFLECT SUBSEQUENT EVENTS