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AEO targets revenues worth $5.5 bn in FY23

28
Jan '21

Pic: American Eagle Outfitters

American Eagle Outfitters (AEO) is aiming at revenues worth nearly $5.5 billion and operating income of $550 million in fiscal 2022-23, with the operating margin expanding to 10 per cent, the company announced recently. These targets exclude potential asset impairment and restructuring charges. Its Aerie brand’s revenue is expected to grow at over 20 per cent compounded annual growth rate (CAGR) to approximately $2 billion.

Aerie is an intimate apparel and lifestyle retailer and sub-brand owned by AEO, a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices.

AEO host a virtual investor meeting recently to present its ‘Real Power. Real Growth’ value creation plan and unveil its long-term financial outlook. As part of the plan, the company will leverage customer-focused capabilities and continue to strengthen its return on investment discipline.

AEO also filed a Form 8-K with the Securities and Exchange Commission (SEC) that provides greater transparency to American Eagle and Aerie’s historical financial performance.

Going forward, the company has elected to disaggregate the results of its American Eagle brand and Aerie brand operating segments, which have historically been aggregated and presented as one reportable segment.

Fibre2Fashion News Desk (DS)

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