WARRENDALE, Pa., Nov 4, 2003 (BUSINESS WIRE) -- American Eagle Outfitters, Inc.
(Nasdaq:AEOS) today named Jim O'Donnell Chief Executive Officer, and Roger
Markfield Vice-Chairman/President of the American Eagle Division. Previously,
Messrs. O'Donnell and Markfield served as Co-CEOs, positions they held since
December, 2001.
As Vice Chairman/President of the AE Brand, Mr. Markfield will be responsible
for merchandising, design, production, and marketing. Executive Vice President,
Susan Miller, is appointed Chief Merchandising Officer of the AE Brand. Susan
will lead the day-to-day merchandising efforts, and report to Mr. Markfield.
Jay Schottenstein, Chairman of American Eagle Outfitters, Inc., commented on the
announcement, "We are strengthening our organization and redirecting our best
talent to the appropriate business functions, as we strive to turn around the
American Eagle business. I'm pleased to have Roger sharply focused on setting
the strategic direction of the merchandising and marketing initiatives of the
American Eagle brand, where his talent and accomplishments are proven. Jim
O'Donnell has demonstrated strong leadership and solid operating disciplines. I
am confident that, as CEO, Jim will effectively lead a strategic turnaround and
position American Eagle for sustained future growth."
American Eagle Outfitters (Nasdaq:AEOS) is a leading lifestyle retailer that
designs, markets, and sells its own brand of casual, fashion-right clothing for
15-25 year olds, providing high-quality merchandise at affordable prices. AE's
collection includes modern basics like jeans, surplus, and graphic Ts as well as
a stylish assortment of cool accessories, outerwear, footwear and swimwear. AE's
Canadian subsidiary, Bluenotes/Thriftys, targets a slightly younger demographic,
offering a more urban/suburban, denim-driven collection for 12 to 22 year-olds.
American Eagle Outfitters currently operates 734 AE stores in 49 states and the
District of Columbia, 63 AE stores in Canada, and 111 Bluenotes/Thriftys stores
in Canada. AE also operates via its internet business, ae.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: This release contains forward-looking statements, which represent our
expectations or beliefs concerning future events, specifically regarding the
future growth and success of our business. All forward-looking statements made
by the Company involve material risks and uncertainties and are subject to
change based on a number of factors some of which are beyond the Company's
control. Such factors include, but are not limited to, the Company's ability to
successfully grow and improve the profitability of our business and those other
risks described in the Company's filings with the Securities and Exchange
Commission. Accordingly, the Company's future performance and financial results
may differ materially from those expressed or implied in any such
forward-looking statements. The Company does not undertake to publicly update or
revise its forward-looking statements even if future changes make it clear that
projected results expressed or implied will not be realized.
SOURCE: American Eagle Outfitters, Inc.
CONTACT: American Eagle Outfitters, Inc.
Laura Weil or Judy Meehan, 724-776-4857