Adjusted earnings per share rose 11 per cent to $0.39 at apparel marketer American Eagle Outfitters in the three months ended December 31, 2016 as against adjusted earnings per share of $0.35 in the prior year's fourth quarter. However, revenue for the reporting quarter decreased 1 per cent to $1.10 billion from $1.11 billion in the fourth quarter of 2015.
In the fourth quarter of 2016, gross profit grew marginally to $389 million compared to $388 million, while gross margin ascended 30 basis points year on year to 35.4 per cent of revenue.Adjusted earnings per share rose 11 per cent to $0.39 at apparel marketer American Eagle Outfitters in the three months ended December 31, 2016 as against adjusted earnings per share of $0.35 in the prior year's fourth quarter. However, revenue for the reporting quarter decreased 1 per cent to $1.10 billion from $1.11 billion in the fourth quarter of 2015.#
According to the company, the higher gross profit margin was attained due to a favourable merchandise margin reflecting improved IMU, partially offset by higher delivery costs related to growth in the direct business.
Operating income in the period under review climbed marginally at $107 million vis-à-vis $106 million, expanding 20 basis points from a year ago quarter to 9.8 per cent as a percentage of revenue. (AR)
Fibre2Fashion News Desk – India
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