
American Eagle Outfitters, a leading global specialty retailer offering high quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle Outfitters® and Aerie® brands, has announced strong third quarter (ended October 29, 2016) results. In the period under review, EPS of US $ 0.41 was reported by the company, a 17 per cent increase from EPS from continuing operations of US $ 0.35 for the comparable quarter last year.
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During the quarter, total net revenue surged by 2 per cent to US $ 941 million from US $ 919 million in the same period last year. The fashion retailer’s consolidated comparable sales increased 2 per cent, following a 9 per cent increase last year. Its total gross profit zoomed 3 per cent to US $ 378 million from US $ 368 million in the corresponding quarter of 2015. Also, operating income rose 8 per cent to US $ 118 million from US $ 109 million last year.
Commenting on the results, Jay Schottenstein, Chief Executive Officer of the company averred, “We continued to deliver strong results in a tough retail climate, with the third quarter reaching record sales and marking the 9th consecutive quarter of profit improvement. We are sharply focused on delivering the best innovation, consistent quality and outstanding value to our customers day-in and day-out. The holiday season is off to a solid start and our brands are well-positioned. We will continue to leverage our leading capabilities to maintain momentum and build on the progress we’ve made over the past few years.”
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In the third quarter, the brand opened four new AE stores, six Aerie stores, one Tailgate store, and simultaneously closed three AE stores. Furthermore, it opened eight licensed locations, while closing three licensed locations.