PITTSBURGH--(BUSINESS WIRE)--Jan. 8, 2009--American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total
sales for the five weeks ended January 3, 2009 decreased 10% to $493.5
million, compared to $546.1 million for the five weeks ended January 5,
2008. Comparable store sales decreased 17% for the month, compared to a
2% decrease for the same period last year.
December sales for the AE brand deteriorated from November and were well
below the company's recent expectations. During key December holiday
shopping periods, traffic and conversion were disappointing. The company
is currently clearing through holiday merchandise and expects to enter
the spring season with fresh inventories, consistent with its plan.
Total sales for the year-to-date eleven month period ended January 3,
2009 decreased 2% to $2.849 billion, compared to $2.892 billion for the
eleven month period ended January 5, 2008. Comparable store sales
decreased 10% for the year-to-date period compared to the same period
last year.
The company is reducing its fourth quarter earnings guidance based on
lower-than-expected December sales, a revised outlook for January, and
increased markdowns. The current fourth quarter earnings expectation is
a range of $0.19 to $0.21, which excludes any potential
other-than-temporary impairment charge related to investment securities.
This compares to fourth quarter EPS of $0.66 last year. The company's
previous fourth quarter earnings guidance was $0.30 to $0.36 per share.
To access the company's recorded monthly sales commentary, please dial
(866) 514-0390, or internationally dial (585) 267-8021.
American Eagle Outfitters, Inc., through its subsidiaries, ("AEO, Inc.")
offers high-quality, on-trend clothing, accessories and personal
care products at affordable prices. The American Eagle Outfitters(R)
brand targets 15 to 25 year old girls and guys, with 858 stores in the
U.S. and Canada and online at www.ae.com.
aerie(R) by american eagle offers Dormwear(R) and
intimates collections for the AE(R) girl, with 116 standalone
stores in the U.S. and Canada and online at www.aerie.com.
MARTIN + OSA(R) provides Refined Casual(TM) fashions for 28 to 40
year old men and women at its 28 stores and online at www.martinandosa.com.
The latest brand, 77kids(TM) by american eagle(TM), is available online only
at www.77kids.com.
77kids offers "kid cool," durable clothing and accessories for kids ages
two to 10. AE.COM(R), the online home of the brands of AEO,
Inc. ships to more than 60 countries worldwide.
"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. 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 sales and earnings expectations may not be achieved and
the 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
, 412-432-3300
Source: American Eagle Outfitters, Inc.