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American Eagle Outfitters revenue up 6% to $1.07 bn in Q3

21
Dec '19

Pic: American Eagle Outfitters

American Eagle Outfitters (AEO) recorded net revenue increase of 6 per cent to $1.07 billion for Q3 ending November 3, 2018 compared to $1 billion last year. The comparable sales increased 5 per cent following 8 per cent comparable sales increase last year. AEO is a global specialty retailer offering high-quality clothing, accessories & personal care products.

By brand, American Eagle’s comparable sales increased 2 per cent, following a 5 per cent increase last year. Aerie’s comparable sales increased 20 per cent, building on a 32 per cent increase last year and marking the 20th consecutive quarter of double-digit sales growth.

“Strong top line performance across brands and channels led to our 19th consecutive quarter of comparable sales growth and record third quarter revenue. In a tough environment, we reported EPS in line with our guidance. We continued to deliver on our strategic pillars, with Aerie and American Eagle Jeans demonstrating strong sales and profit growth. Softer demand in certain AE apparel categories led to higher markdowns and has persisted into the fourth quarter. The team has been working hard to quickly course correct, and our focus is squarely on continuing to capitalize on the strength of our brands, accelerating the growth of Aerie, and creating shareholder value,” said Jay Schottenstein, AEO’s chairman and chief executive officer of American Eagle Outfitters.

The management of American Eagle Outfitters expects fourth quarter 2019 EPS to be in the range of $0.34 to $0.36, with comparable sales approximately flat.

Fibre2Fashion News Desk (PC)

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