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American Eagle Outfitters reports Q3 financial results

16
Nov '05

Leading lifestyle retailer American Eagle Outfitters Inc Comparable Store Sales Increase 13.6 percent; Provides Fourth Quarter EPS Guidance American Eagle Outfitters Inc announced its consolidated financial results for the third quarter ended October 29, 2005.

-- Total sales increased 20.5 percent to $577.7 million from $479.6 million for the quarter ended October 30, 2004.

-- Comparable store sales increased 13.6 percent, compared to a 26.8 percent comparable store sales increase for the corresponding period last year.

-- Gross profit for the quarter increased to $269.4 million, or 46.6 percent as a percent to sales, from $233.9 million, or 48.8 percent as a percent to sales last year. The decline in gross profit as a percent to sales compared to last year was due primarily to a lower merchandise margin, partially offset by the leveraging of rent expense.

-- Operating income for the quarter increased to $113.3 million, or 19.6 percent as a percent to sales, from $96.9 million, or 20.2 percent as a percent to sales last year.

-- Net income for the quarter increased to $73.3 million, or $0.47 per share on a diluted basis, from net income of $57.9 million, or $0.38 per share on a diluted basis last year (which included a $0.01 loss from discontinued operations).
Year-to-Date for the Nine Months Ended October 29, 2005

-- Total sales increased 28.0 percent to $1.545 billion from $1.207 billion for the nine months ended October 30, 2004.

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