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American Eagle sees strong results in third quarter
08
Nov '11
American Eagle Outfitters Inc announced that total sales for the third quarter ended October 29, 2011 increased 11% to $832 million, compared to $752 million for the quarter ended October 30, 2010. Comparable store sales increased 5% for the quarter, compared to a 1% increase for the same period last year. Including AEO direct, comparable store sales increased 7% for the quarter.

Third quarter sales results reflected strength across brands, with AE posting a 5% comp increase and aerie comps rising 8%. AEO direct posted a 21% sales increase in the third quarter.

Jim O'Donnell, chief executive officer commented, “Our third quarter results reflect stronger merchandise assortments and targeted promotions supported by strategic inventory investments. We delivered double-digit sales growth and improved comp performance, despite a continuing difficult economic environment. Perhaps equally gratifying, sales momentum continued beyond fall, and we have seen a positive customer response to the initial holiday assortment.”

Total sales for the year-to-date period ended October 29, 2011 increased 3% to $2.12 billion, compared to $2.05 billion for the period ended October 30, 2010. Comparable store sales decreased 1% for the year-to-date period, compared to a 1% increase for the same period last year. Including AEO direct, comparable store sales increased 1% for the period.

Based on strong sales, the company now expects third quarter EPS of $0.26 to $0.27 per diluted share, compared to the company's previous EPS guidance of $0.22 to $0.27 per diluted share.

The company also announced that it will release third quarter and nine month financial results prior to the market's open on November 30, 2011 and will host a conference call to review the financial results at 9:00 a.m. Eastern Time on that date.

The conference call will also be simultaneously broadcast over the Internet at AE's website. Anyone unable to listen to the call can access a replay beginning November 30, 2011 at 12:00 p.m. Eastern Time through December 21, 2011.

American Eagle Outfitters, Inc., through its subsidiaries, (AEO, Inc) offers high-quality, on-trend clothing, accessories and personal care products at affordable prices. The American Eagle Outfitters brand targets 15 to 25 year old girls and guys, with 937 stores in the U.S. and Canada.

American Eagle Outfitters Inc

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