American Eagle, the reputed US fashion retailer, is here with its Q2 financial results!
The retailer has witnessed its second quarter net revenue surge by an impressive 35 per cent to clock US $ 1.19 billion.
Brand wise, the revenue of American Eagle shot up by 35 per cent to post US $ 846 million, while Aerie saw its revenue rise by 34 per cent to US $ 336 million.
The apparel retailer has attributed the good numbers to increasing store traffic as well as pent-up demand.
However, increasing store traffic has hit the retailer’s online sales during the quarter. While the store revenue surged 73 per cent year-over-year, e-commerce, reportedly, fell by 5 per cent.
Owing to a good margin growth, the retailer saw a net income of US $ 121.5 million, compared to a loss of US $ 13.8 million a year back.
Meanwhile, the retailer revealed that it has acquired e-commerce logistics provider AirTerra, which will help smoothen the supply chain for its brands in addition to continuing with its services for third parties and thereby helping the retailer with good side revenue.
The US apparel retailer aims to attain revenue of approximately US $ 5.5 billion and operating income of US $ 550 million in fiscal 2023.
