Home / Knowledge / News / Apparel/Garments / American Eagle declares dividend of $0.125 per share
American Eagle declares dividend of $0.125 per share
03
Sep '14
American Eagle Outfitters, Inc., a global specialty retailer offering on-trend clothing and accessories, has announced a quarterly cash dividend of US$ 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

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search