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Lifestyle retailer AE Outfitters announces financials for Q2

16
Aug '05

Leading lifestyle retailer American Eagle Outfitters Inc announced consolidated financial results for the second quarter ended July 30, 2005.

Second Quarter Ended July 30, 2005

-Total sales increased 29.8 percent to $513.3 million from $395.4 million for the quarter ended July 31, 2004.

-Comparable store sales increased 21.1 percent when compared to the corresponding period last year.

-Gross profit as a percent to sales increased to 44.4 percent from 41.2 percent last year due to an improvement in merchandise margins and the leveraging of rent expense.

-Operating income for the quarter increased to $86.0 million, or 16.8 percent as a percent to sales, from $51.0 million, or 12.9 percent as a percent to sales last year.
-Net income for the quarter increased to $58.0 million, or $0.37 per share on a diluted basis, from net income of $29.3 million, or $0.20 per share on a diluted basis last year (which included a $0.02 loss from discontinued operations).

Year-to-Date for the Six Months Ended July 30, 2005

-Total sales increased 32.9 percent to $967.3 million from $727.6 million for the six months ended July 31, 2004.

-Comparable store sales increased 23.8 percent when compared to the same six month period last year.

-Gross profit as a percent to sales increased to 46.5 percent from 42.8 percent last year due to the leveraging of rent expense and an improvement in merchandise margins.

-Operating income for the period increased to $173.6 million, or 17.9 percent as a percent to sales, from $94.1 million, or 12.9 percent as a percent to sales last year.

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