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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | OMB Number: 3235-0058 Expires: August 31, 2016 Estimated average burden hours per response 2.50 |
FORM 12b-25 | SEC FILE NUMBER 001-31314 |
NOTIFICATION OF LATE FILING | CUSIP NUMBER 007865108 |
(Check One): | x Form 10-K ¨ Form 20-F ¨ Form 11-K ¨ Form 10-Q ¨ Form N-SAR ¨ Form N-CSR | |
For Period Ended: January 30, 2016 | ||
¨ Transition Report on Form 10-K | ||
¨ Transition Report on Form 20-F | ||
¨ Transition Report on Form 11-K | ||
¨ Transition Report on Form 10-Q | ||
¨ Transition Report on Form N-SAR | ||
For the Transition Period Ended: |
Read instructions (on back page) before preparing form. Please print or type. Nothing in this form shall be construed to imply that the Commission has verified any information contained herein. |
AÉROPOSTALE, INC. |
N/A |
112 West 34th Street, 22nd floor |
New York, NY 10120 |
x | (a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and (c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
(1) | Name and telephone number of person to contact in regard to this notification | |||||
Marc G. Schuback | (646) | 452-1851 | ||||
(Name) | (Area code) | (Telephone number) |
(2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s). x Yes ¨ No |
(3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? x Yes ¨ No |
52 weeks ended | |||||||||||||
January 30, 2016 | January 31, 2015 | ||||||||||||
% of sales | % of sales | ||||||||||||
Net sales | $ | 1,506,867 | 100.0 | % | $ | 1,838,663 | 100.0 | % | |||||
Cost of sales (including certain buying, occupancy and warehousing expenses) (1) | 1,213,865 | 80.6 | % | 1,502,225 | 81.7 | % | |||||||
Gross profit | 293,002 | 19.4 | % | 336,438 | 18.3 | % | |||||||
Selling, general and administrative expenses (2) | 419,312 | 27.8 | % | 508,611 | 27.7 | % | |||||||
Restructuring (benefit) charges | (6,100 | ) | (0.4 | )% | 40,356 | 2.2 | % | ||||||
Intangible asset impairment | — | — | 5,100 | 3 | % | ||||||||
Reversal of contingent consideration | (800 | ) | (0.1 | )% | (4,491 | ) | (3 | )% | |||||
Loss from operations | (119,410 | ) | (7.9 | )% | (213,138 | ) | (11.6 | )% | |||||
Interest expense | 12,920 | 1.0 | % | 8,783 | 0.5 | % | |||||||
Loss before income taxes | (132,330 | ) | (8.9 | )% | (221,921 | ) | (12.1 | )% | |||||
Income tax expense (benefit) (3) | 4,613 | 0.2 | % | (15,463 | ) | (0.9 | )% | ||||||
Net loss | $ | (136,943 | ) | (9.1 | )% | $ | (206,458 | ) | (11.2 | )% | |||
Basic loss per share | $ | (1.72 | ) | $ | (2.62 | ) | |||||||
Diluted loss per share | $ | (1.72 | ) | $ | (2.62 | ) | |||||||
Weighted average basic shares | 79,610 | 78,862 | |||||||||||
Weighted average diluted shares | 79,610 | 78,862 | |||||||||||
STORE DATA: | |||||||||||||
Comparable sales change (including e-commerce channel) | (8.6 | )% | (11.1 | )% | |||||||||
Average square footage during period | 3,219,594 | 3,998,986 | |||||||||||
(1) Cost of sales for fiscal 2015 was unfavorably impacted by asset impairment charges of $11.1 million ($11.1 million after tax, or $0.14 per diluted share) and store closing costs of $4.6 million ($4.6 million after tax, or $0.06 per diluted share). Cost of sales for fiscal 2014 was unfavorably impacted by asset impairment charges of $46.7 million ($41.9 million after tax, or $0.53 per diluted share) and net lease costs for closed stores of $4.6 million ($4.0 million after tax, or $0.05 per diluted share). | |||||||||||||
(2) Selling, general and administrative expenses for fiscal 2015 were unfavorably impacted by other costs of $3.9 million ($3.9 million after tax, or $0.05 per diluted share) which included the reversal of the CEO's stock options, severance costs, consulting costs and a retirement plan settlement adjustment. Selling, general and administrative expenses for fiscal 2014 were unfavorably impacted by consulting fees of $5.5 million ($5.0 million after tax, or $0.06 per diluted share) and other costs of $2.0 million ($1.6 million after tax, or $0.02), which included net severance costs. | |||||||||||||
(3) Income tax benefit for fiscal 2014 was unfavorably impacted by the establishment of reserves against net deferred tax assets of $3.4 million after tax, or $0.04 per diluted share. |
Aéropostale, Inc. |
Date: | April 15, 2016 | By: | /s/ David J. Dick | |||
Name: David J. Dick Title: Senior Vice President - Chief Financial Officer |