US specialty retailer AEO's Aug-Oct net income skyrockets to $152 mn

American Eagle Outfitters (AEO), a US-based specialty retailer offering on-trend clothing, has achieved revenue of $1.27 billion, up by 24 per cent against the revenue of $1.03 billion in the same period of previous fiscal. Net income for the quarter ended on October 30, 2021, surged nearly by 1.5 times to $152.2 million (Q3 FY20: $58.1 million).

 

American Eagle Outfitters (AEO), a US-based specialty retailer offering on-trend clothing, has achieved revenue of $1.27 billion, up by 24 per cent against the revenue of $1.03 billion in the same period of previous fiscal. Net income for the quarter ended on October 30, 2021, surged nearly by 1.5 times to $152.2 million (Q3 FY20: $58.1 million).#

“The work on our Real Power. Real Growth. value creation plan is driving meaningful improvements to our profitability through real estate and inventory optimisation; omni-channel and customer focus; and our supply chain initiatives. The power of our brands, operations and talent are clearly evident and we are intensely focused on ensuring these strengths continue to take AEO to new heights,” said Jay Schottenstein, AEO’s executive chairman of the board and chief executive officer, in a press release.

 

American Eagle Outfitters (AEO), a US-based specialty retailer offering on-trend clothing, has achieved revenue of $1.27 billion, up by 24 per cent against the revenue of $1.03 billion in the same period of previous fiscal. Net income for the quarter ended on October 30, 2021, surged nearly by 1.5 times to $152.2 million (Q3 FY20: $58.1 million).#

By segment, American Eagle's revenue went up by 21 per cent to $941.0 million ($775.9 million). While Aerie’s revenue during Q3 accelerated by 28 per cent to $315.0 million ($246.7 million).

 

American Eagle Outfitters (AEO), a US-based specialty retailer offering on-trend clothing, has achieved revenue of $1.27 billion, up by 24 per cent against the revenue of $1.03 billion in the same period of previous fiscal. Net income for the quarter ended on October 30, 2021, surged nearly by 1.5 times to $152.2 million (Q3 FY20: $58.1 million).#

The American on-trend clothing retailer’s gross profit for the reported quarter surged $564.5 million ($414.7 million), while selling, general and administrative expenses totalled to $313.9 million ($273.3 million). 

 

American Eagle Outfitters (AEO), a US-based specialty retailer offering on-trend clothing, has achieved revenue of $1.27 billion, up by 24 per cent against the revenue of $1.03 billion in the same period of previous fiscal. Net income for the quarter ended on October 30, 2021, surged nearly by 1.5 times to $152.2 million (Q3 FY20: $58.1 million).#

“This quarter, we took an important next step in our supply chain transformation with the planned acquisition of Quiet Logistics to ensure ongoing efficiencies and procure a state-of-the-art logistics platform with meaningful growth potential. With our customer-first focus, the teams did a great job bringing in goods to meet strong demand this holiday season. I am extremely proud of the team’s ability to execute with precision at a time of volatility and am confident that we will exceed $600 million of operating income for the year, well above the $550 million 2023 target,” Schottenstein added.