March 13 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
Aeropostale shares fell 7 percent in extended trading on
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
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.