Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at firstname.lastname@example.org in case you need any other additional information.
Robert Hanson, Chief Executive Officer, stated, “Our second quarter results reflected disappointing product execution in women’s. Additionally, we faced a highly promotional and competitive retail landscape and a decline in traffic, which have continued into the third quarter.
“We are working hard to strengthen our assortments, marketing efforts and overall execution, while maintaining tight inventories and disciplined expense management. Although extremely disappointed with our results, I’m confident in the strength of our brands, our strategic initiatives including, factory stores, aerie, omni-channel and international, as well as the team’s resolve to regain momentum and improve our bottom line performance.”
Second Quarter 2013 Non-GAAP Results
The following discussion is based on Non-GAAP results for the comparable quarter last year, as presented in the accompanying GAAP to Non-GAAP reconciliations.
- Total net revenue decreased 2% to $727 million, compared to $740 million last year.
- Consolidated comparable sales, including AEO Direct, decreased 7%, compared to an 8% increase last year. Second quarter 2013 comparable sales are compared to the 13 weeks ended August 4, 2012.
- Gross profit decreased 11% to $245 million and, as a rate to revenue, decreased 360 basis points to 33.8%. The decline is primarily the result of higher markdowns and the deleverage of rent on negative -comps.
- Selling, general and administrative expense of $186 million increased 5% from last year and deleveraged 160 basis points to 25.6% as a rate to revenue.
- Operating income decreased 56% to $29 million, resulting in a rate of 4.1% compared to 9.1% last year.
- EPS of $0.10 compared to adjusted EPS from continuing operations of $0.21 last year, a 52% decrease.
Click here to read full results
American Eagle Outfitters
| On 14th Jul 2020
Vietnam's textile and garment sector could see more job losses in the ...
Gap Inc. will work collaboratively with its vendors to compensate...
| On 14th Jul 2020
RTW Retailwinds, an omni-channel specialty apparel retail platform...
‘There has been an increase in demand for water based inks, rather than...
RCEP was always going to be a double-edged sword
Textile & apparel bodies
The mid-term review of FTP is progressive, growth oriented
Comec Italia Srl is a world leader in the production of printing machines. ...
Weaves is South India's premier textile fair organised by Texvalley in...
Surat-based Sunrise Imports & Exports Co is a manufacturer and...
INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...
The Association of the Nonwoven Fabrics Industry (INDA) has created a new...
Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...
Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...
Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...
Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.