Katie O'Brien
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Katie O'Brien in Senior Content Editor,

Insider Buying a Good Sign for Aeropostale?

Shares of Aeropostale (NYSE: ARO) are moving at $0.70 after opening at $.74, below its most recent 52-week low.

Insider Buying

Wall Street Point reported that Aeropostale Chief Operating Officer and Executive Vice President Marc Miller recently bought 60,000 shares of the brand, valued at $0.72 each, which could possibly point to much-needed good news from the company.

The last earnings report, released in August, confirmed the 11th consecutive quarter that found negative earnings. Following the last earnings report, Aeropostale CEO Julian Geiger pointed towards the “back to school” clothing season to prop up the company, finally reach higher earnings.

"We are encouraged by our progress during the initial part of the back-to-school season, especially the significant improvement in our girls business," Geiger said in a statement, according to Reuters.

Prior, the company promoted major retail sales in an attempt to get rid of high inventory. Some of these major sales can be attributed to stiff competition from highly-popular brands Forever 21 and H&M, just to name a few.

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