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American Eagle Outfitters reports Q3 financial results
16 Nov '05
3 min read
-- Comparable store sales increased 19.8 percent, compared to a 17.5 percent comparable store sales increase for the same nine month period last year.
-- Gross profit for the period increased to $719.5 million, or 46.6 percent as a percent to sales, from $545.4 million, or 45.2 percent as a percent to sales last year. The increase in gross profit as a percent to sales compared to last year was due primarily to the leveraging of rent expense.
-- Operating income for the period increased to $286.9 million, or 18.6 percent as a percent to sales, from $191.0 million, or 15.8 percent as a percent to sales last year.
-- Net income for the period increased to $186.6 million, or $1.19 per share on a diluted basis, from net income of $112.4 million, or $0.75 per share on a diluted basis last year (which included a $0.04 loss from discontinued operations).
During the quarter, the Company completed the repurchase of 6.0 million shares of common stock for approximately $139 million, which were available under the Company's repurchase program authorization.
Management indicated that it expects fourth quarter earnings per share to be in the range of $0.73 to $0.75.
This compares to earnings of $0.70 per share from continuing operations in the fourth quarter of last year.
American Eagle Outfitters is a leading lifestyle retailer that designs, markets, and sells its own brand of relaxed, casual clothing for 15 to 25 year olds, providing high-quality merchandise at affordable prices.
AE's collection includes modern basics like jeans, cargo pants, and graphic Ts as well as a stylish assortment of cool accessories, outerwear and footwear.
American Eagle Outfitters currently operates 797 AE stores in 50 states, the District of Columbia and Puerto Rico, and 71 AE stores in Canada.
-- Gross profit for the period increased to $719.5 million, or 46.6 percent as a percent to sales, from $545.4 million, or 45.2 percent as a percent to sales last year. The increase in gross profit as a percent to sales compared to last year was due primarily to the leveraging of rent expense.
-- Operating income for the period increased to $286.9 million, or 18.6 percent as a percent to sales, from $191.0 million, or 15.8 percent as a percent to sales last year.
-- Net income for the period increased to $186.6 million, or $1.19 per share on a diluted basis, from net income of $112.4 million, or $0.75 per share on a diluted basis last year (which included a $0.04 loss from discontinued operations).
During the quarter, the Company completed the repurchase of 6.0 million shares of common stock for approximately $139 million, which were available under the Company's repurchase program authorization.
Management indicated that it expects fourth quarter earnings per share to be in the range of $0.73 to $0.75.
This compares to earnings of $0.70 per share from continuing operations in the fourth quarter of last year.
American Eagle Outfitters is a leading lifestyle retailer that designs, markets, and sells its own brand of relaxed, casual clothing for 15 to 25 year olds, providing high-quality merchandise at affordable prices.
AE's collection includes modern basics like jeans, cargo pants, and graphic Ts as well as a stylish assortment of cool accessories, outerwear and footwear.
American Eagle Outfitters currently operates 797 AE stores in 50 states, the District of Columbia and Puerto Rico, and 71 AE stores in Canada.
American Eagle Outfitters Inc
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