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Q2FY17 diluted EPS soars 35% at American Eagle Outfitters
20
Aug '16
Courtesy: American Eagle
Courtesy: American Eagle
Diluted earnings per share soared 35 per cent year over year in the three months ended July 30, 2016 to $0.23 at US apparel retailer American Eagle Outfitters.

While total net revenue increased slower at 3 per cent to $823 million in the second quarter of fiscal 2017 from $797 million in the fiscal ago quarter.

In the reporting period, consolidated comparable sales also rose 3 per cent, following an 11 per cent increase in the prior fiscal's second quarter.

Gross profit grew 8 per cent year on year to $307 million in the quarter under review and as a rate to revenue, expanded 160 basis points to 37.3 per cent.

“The increase was driven by improved merchandise margin due to lower cost and higher realised selling prices, partially offset by increased delivery expense related to growth in digital sales,” the retailer explained.

In the second quarter of fiscal 2017, operating income surged 29 per cent to $69 million as against $53 million, while operating margin improved 160 basis points to 8.3 per cent as a rate to revenue.

CEO Jay Schottenstein said, “For the past few years, we have worked hard to lift our brands through merchandise leadership and innovation, strengthen our customer focus and invest in technology.”

“Our efforts around these priorities are clearly paying off, as again evidenced by our strong earnings growth in the second quarter,” he added. (AR)

Fibre2Fashion News Desk – India


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