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Stock Update - Aeropostale (NYSE:ARO) Shares Fall 6% in Opening Session
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Aeropostale, Inc. (NYSE:ARO) fell 10.52% to $29.26 after it said third-quarter net profit and revenue rose sharply, but the low end of its fourth-quarter outlook fell just short of Wall Street estimates.
Aeropostale posted a 47 percent rise in third-quarter net profit to $62.6 million, or 92 cents per share, compared with $42.6 million, or 63 cents per share, a year earlier. Analysts on average had been expecting third-quarter earnings of 91 cents per share, according to Thomson Reuters I/B/E/S.
.Aeropostale, Inc. is a mall-based specialty retailer of casual apparel and accessories. The Company designs, markets and sells its own brand of merchandise principally targeting 14 to 17 year-old young women and young men. The Company also sells Aeropostale merchandise through its e-commerce Website, http://www.aeropostale.com/.
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