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AEO updates Q3 EPS guidance

11 Nov '08

2 min read

American Eagle Outfitters Inc announced that total sales for the four weeks ended November 1, 2008 decreased 3% to $204.8 million, compared to $210.2 million for the four weeks ended November 3, 2007. Comparable store sales decreased 12% for the month, compared to a 3% decrease for the same period last year.

Total sales for the third quarter ended November 1, 2008 increased 1% to $754.0 million, compared to $744.4 million last year. Comparable store sales decreased 7% for the third quarter period compared to the same period last year.

Total sales for the year-to-date nine month period ended November 1, 2008 increased 1% to $2.083 billion, compared to $2.060 billion for the nine month period ended November 3, 2007. Comparable stores sales decreased 7% for the year-to-date period compared to the same period last year.

Based on October sales and operating results, the company now expects third quarter EPS to be approximately $0.30 compared to $0.45 last year. This guidance does not include the impact of an other-than-temporary impairment charge relating to auction rate securities. The amount of that charge will be included in a Form 8-K filing, when the valuation is complete.

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 958 stores in the U.S. and Canada and online at its website.

American Eagle Outfitters Inc

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