The first quarter has witnessed American Eagle Outfitters (AEO) and its brands perform extraordinarily as far as digital business is concerned.
Closure of physical stores forced lot of people to search and buy products digitally all through the first quarter. And the results are out!
While AEO recorded a rise of 33 per cent in its digital business in Q1, its intimate apparel brand Aerie clocked a whopping 75 per cent increase in digital business during the period.
The coronavirus had taken its toll on AEO and its brands over the last few months, with overall revenue of American Eagle falling by as much as 45 per cent and Aerie’s revenue dipping by 2 per cent.
However, increase in digital sales has been instrumental in offsetting the revenue losses made owing to the pandemic.
Going forward, Jennifer M. Foyle, Aerie Brand President, shared that there could be a possibility of initiating a small store concept in July, but she did not divulge any further details on the same.
Substantiating further, Jay Schottenstein, Chairman and CEO, AEO said that there will lot of expansion opportunities for the company in the future including solidifying American Eagle in the jeans market.
Notably, American Eagle Outfitters and Aerie merchandise are available at 82 licensed international franchise stores across 13 countries. Apart from apparels, the brand also sells lingerie, fashion accessories and personal care products.