Raises Fourth Quarter EPS Guidance
WARRENDALE, Pa.--(BUSINESS WIRE)--Feb. 7, 2007--American Eagle
Outfitters, Inc. (NASDAQ:AEOS) today announced that total sales for
the five weeks ended February 3, 2007 were $207.1 million, compared to
$130.0 million for the four-week period ended January 28, 2006. Due to
the 53rd week in fiscal 2006, January 2007 comps are compared to the
five week period ended February 4, 2006. On this basis, the company
delivered a comparable store sales increase of 17% for the recent five
week period, compared to the corresponding five weeks last year. Last
year's comparable store sales increase was 9% for the five week
January period.
Strong sales results in January were driven by relevant on-trend
assortments, reflecting the strength and appeal of the AE brand. The
initial response to the Spring collection has been positive,
particularly wear-now merchandise. Additionally, our annual holiday
clearance event was very well received, capping off a successful
holiday season.
Jim O'Donnell, Chief Executive Officer, commented, "Our sales
performance in January provided a gratifying finish to an outstanding
year. Fiscal 2006 was marked by the continued growth of the AE brand
and the launch of two new concepts, aerie and MARTIN + OSA. Entering
2007, American Eagle is well-positioned for continued profitable
growth through our focused brand-building initiatives and disciplined
approach to operations."
Total sales for the fourth quarter ended February 3, 2007, which
was 14 weeks, were $973.4 million, compared to $769.1 million for the
quarter ended January 28, 2006, which was 13 weeks, an increase of
27%. Comparable store sales increased 14% for the fourth quarter of
2006 compared to the same 14 week period last year.
Total sales for the fifty-three week period ended February 3, 2007
were $2.794 billion, compared to $2.322 billion for the fifty-two week
period ended January 28, 2006, an increase of 20%. Comparable store
sales increased 12% for the 2006 period compared to the corresponding
fifty-three week period last year.
Subject to final review, the company expects fourth quarter
earnings to be $0.66 per share compared to $0.47 per share last year,
which would represent 40% growth over last year. The company's
previous fourth quarter earnings guidance was $0.64 to $0.65 per
share.
To access the company's recorded monthly sales commentary, please
call 800-642-1687, conference code 3282124#.
The Company will report fourth quarter earnings along with
February sales on the morning of Wednesday, March 7th. The recorded
sales call will be available that day at 7:30 am Eastern Time, and at
9:00 a.m. Eastern Time, management will hold a conference call to
discuss fourth quarter earnings. To listen to the earnings call,
please dial 877-601-0864. The earnings conference call will also be
simultaneously broadcast over the internet at www.ae.com.
About American Eagle Outfitters:
American Eagle Outfitters, Inc. (Nasdaq:AEOS) is a leading
retailer that operates under the American Eagle Outfitters and MARTIN
+ OSA brands.
American Eagle Outfitters designs, markets and sells its own brand
of laidback, current clothing targeting 15 to 25 year-olds, providing
high-quality merchandise at affordable prices. AE's original
collection includes standards like jeans and graphic Ts as well as
essentials like accessories, outerwear, footwear, basics and swimwear.
American Eagle currently operates 834 stores in 50 states, the
District of Columbia and Puerto Rico, and 72 AE stores in Canada.
American Eagle also operates ae.com, which offers additional sizes and
styles of favorite AE merchandise and ships around the world. The
American Eagle brand also includes a new collection of dormwear and
intimates, "aerie by American Eagle." aerie is available in American
Eagle stores across the country and at aerie.com. It includes bras,
undies, camis, hoodies, robes, boxers, sweats and leggings for the AE
girl. Designed to be sweetly sexy, comfortable and cozy, aerie offers
AE customers a new way to express their personal style everyday, from
the dormroom to the coffee shop to the classroom.
The company introduced MARTIN + OSA, a new sportswear concept
targeting 25 to 40 year-old women and men. MARTIN + OSA carries
apparel, accessories and footwear, using denim and sport inspiration
to design fun and sport back into sportswear. MARTIN + OSA currently
operates five stores. For additional information and updates, visit
martinandosa.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 fourth quarter earnings and continued
profitable growth. All forward-looking statements made by the company
involve material risks and uncertainties and are subject to change
based on factors beyond the company's control. Such factors include,
but are not limited to the risk that the company's fourth quarter
earnings and continued profitable growth expectations may not be
achieved and those other risks described in the Risk Factor Section of
the company's Form 10-K and Form 10-Q filed 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.
CONTACT: American Eagle Outfitters, Inc.
Judy Meehan, 724-776-4857
OR
Financial Media Contact
Berns Communications Group
Stacy Berns or Melissa Jaffin, 212-994-4660
SOURCE: American Eagle Outfitters, Inc.