• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

American Eagle declares dividend of $0.125 per share

03 Sep '14
2 min read

American Eagle Outfitters, Inc., a global specialty retailer offering on-trend clothing and accessories, has announced a quarterly cash dividend of US$ 0.125 per share, marking the company’s 41st consecutive quarterly dividend.
 
The $0.125 dividend is payable on October 15, 2014 to stockholders of record at the close of business on October 1, 2014, the company said in a statement.
 
In the second quarter ending August 2, 2014, net revenue at American Eagle Outfitters fell 2 percent to $711 million from $727 million in the comparable second quarter of 2013. Sales from new store growth in the second quarter of 2014 nearly offset the decline in comparable sales which fell 7 percent from a year ago period.
 
Gross profit declined 3 percent year-on-year in the quarter under review to $238 million and declined 40 basis points to 33.4 percent as a rate to revenue.
 
Operating income fell 59 percent to $12 million in the quarter under review, while operating margin declined 240 basis points to 1.7 percent.
 
In the second quarter of 2014, American Eagle reported earnings per share of $0.03 compared to earnings per share of $0.10, a year earlier.
 
Total merchandise inventories at the end of the second quarter of 2014 decreased 15 percent to $393 million compared to $461 million last year. At cost per foot, inventory dipped 18 percent.
 
According to American Eagle, inventories reflect a change to ownership terms completed late last year, as it began taking ownership of inventory at the receiving port rather than the port of departure. Excluding the change in terms, inventory at cost per foot decreased in the mid single-digits and clearance units were well below last year. It said that in the third quarter of 2014, ending inventory at cost per foot is expected to decline in the low double-digits, or mid single-digits excluding the change in ownership terms.
 
Based on a mid single-digit decline in comparable sales, American Eagle expects third quarter EPS to be approximately $0.17 to $0.19 compared to adjusted earnings of $0.19 per diluted share last year. The guidance excludes potential asset impairment and restructuring charges.
 
American Eagle operates more than 1,000 stores in the United States, Canada, Mexico, China, and Hong Kong, and ships to 81 countries worldwide through its websites. (RKS)
 

Fibre2fashion News Desk - India

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search