EPS surges 17% at American Eagle in Q3FY17
December 05, 2016 - United States Of America
Earnings per share for the three months ended October 29, 2016, at apparel retailer American Eagle Outfitters surged 17 per cent at $0.41 as against earnings per share from continuing operations of $0.35 in the prior fiscal’s third quarter. Net revenue in the third quarter of fiscal 2017 rose 2 per cent from a fiscal ago quarter to $941 million.
Gross profit in the reporting quarter increased 3 per cent to $378 million compared to $368 million in the third quarter of fiscal 2016, while gross margin as a percentage of sales rose 20 basis points to 40.2 per cent.
According to the company, the increase in gross margin was the result of an improved IMU, partially offset by a slight increase in markdowns.
SG&A in the quarter under review was down marginally to $220 million and expanded 60 basis points as a percentage of sales to 23.4 per cent.
In the reporting period, operating income increased 8 per cent year over year to $118 million, while operating margin increased 70 basis points as a percentage of revenue to 12.6 per cent. (AR)