Aeropostale eyes expansion into Mexico this summer
Apparel retailer Aeropostale to begin opening stores in Mexico this summer
NEW YORK (AP) -- Teen clothing store chain Aeropostale Inc. will begin opening stores in Mexico as early as this summer, the company said Monday.
The retailer signed a licensing deal with Distribuidora Liverpool SA de CV that will enable Aeropostale to open shops within Liverpool department stores across Mexico. Financial terms of that agreement were not disclosed.
In addition, Aeropostale said it plans to roll out its own stand-alone stores, the first of which is scheduled to open in Santa Fe Mall in Mexico City this summer.
CEO Thomas P. Johnson noted that the New York-based company sees Mexico as a pivotal market in Aeropostale's expansion strategy.
The retailer now operates 898 Aeropostale stores across the U.S. and Puerto Rico. It also has locations in Canada and licensees operate stores in the Middle East, Asia and Europe.
Shares of Aeropostale rose 8 cents to $13.72 in afternoon trading on Monday. The stock has gained 5.6 percent this year.
