Fourth Quarter 2012 Non-GAAP Results The following discussion is based on Non-GAAP results, which exclude tax benefits, restructuring and store impairment costs as presented in the accompanying GAAP to Non-GAAP reconciliations.
American Eagle Outfitters, Inc. reported adjusted fiscal year 2012 earnings for the 53 weeks ended February 2, 2013 of $1.39 per share, a 43% increase#
-Total net revenue for the 14 weeks increased 9% to a record $1.12 billion from $1.03 billion for the 13 week period last year. Consolidated comparable sales for the 14 weeks increased 4% over the comparable 14 week period last year. This follows an 11% increase last year.
-Gross profit increased 27% to $461 million and increased 600 basis points to 41.2% as a rate to revenue, driven by lower product costs, markdown improvements and rent leverage.
-Selling, general and administrative expense of $253 million increased 230 basis points to 22.6% as a rate to revenue, due to higher incentive costs and planned advertising investments.
-Operating income increased 48% to $177 million. The operating margin expanded 430 basis points to 15.9%, the company’s best operating income rate since 2007.
-Adjusted EPS of $0.55 compares to $0.39 last year, a 41% increase.
American Eagle Outfitters, Inc. reported adjusted fiscal year 2012 earnings for the 53 weeks ended February 2, 2013 of $1.39 per share, a 43% increase#
American Eagle Outfitters, Inc
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