Aeropostale posts wider quarterly loss, signs deal with Sycamore

March 13 Thu Mar 13, 2014 4:27pm EDT

March 13 (Reuters) - Teen apparel retailer Aeropostale Inc reported its fifth straight quarterly loss, hurt by a 15 percent fall in same-store sales, and said it entered into a deal with private equity firm Sycamore Partners for a 5 percent stake.

Aeropostale shares fell 7 percent in extended trading on Thursday.

Sycamore will provide a $150 million loan to the company, in exchange for the right to acquire up to 5 percent of its shares at $7.25, the stock's closing price on the New York Stock Exchange on Wednesday, Aeropostale said.

Stefan Kaluzny, a managing director at Sycamore, will join Aeropostale's board.

The company reported a net loss of $70.3 million, or 90 cents per share, in the fourth quarter ended Feb. 1, wider than a loss of $671,000, or 1 cent per share, a year earlier.

Excluding items, it posted a loss of 35 cents per share.

Sales fell 16 percent to $670 million in the fourth quarter.

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