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American Eagle Outfitters' net revenue rises 8% in Q3 2015
10
Dec '15
American Eagle Outfitters Inc, a specialty retailer for trendy apparel and accessories based in US, reported a rise of 8 per cent in net revenue in the third quarter of 2015, ending on October 31, to $919 million as compared to $854 million in the corresponding quarter of 2014, according to a press statement released by the company.

For the third quarter of 2015, the company reported a rise of 59 per cent in its Earnings per Share (EPS) from continuing operations of $0.35 as compared to the adjusted EPS of $0.22 for the corresponding quarter of 2014.

Consolidate comparable sales increased 9 per cent as compared to a decrease of 5 per cent last year.

Gross profit increased 17 per cent to $368 million, and the gross margin rate leveraged 310 basis points to 40 per cent. Operating income increased to $109 million from $74 million last year, and the operating margin expanded 320 basis points to 11.9 per cent as a rate to revenue.

Commenting on the results, Jay Schottenstein, CEO of American Eagle Outfitters said, “We are extremely pleased with our third quarter results. Both the American Eagle and Aerie brands performed exceptionally well, delivering increased sales and profitability. It is gratifying to see positive momentum, which speaks volumes to the strength of our teams, brands and operations.”

“The holiday season is off to a solid start, and we are optimistic as we look ahead. We will continue executing on our priorities to further strengthen and grow our business, while delivering returns to shareholders,” he added.

Based on an anticipated mid single-digit increase in comparable sales, management expects fourth quarter 2015 EPS to be approximately $0.40 to $0.42. This guidance excludes potential asset impairment and restructuring charges, and compares to EPS from continuing operations of $0.36 last year. (MCJ)

Fibre2Fashion News Desk – India

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