PITTSBURGH--(BUSINESS WIRE)--Aug. 6, 2009--
American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total
sales for the four weeks ended August 1, 2009 decreased 8% to $215.0
million, compared to $232.8 million for the four weeks ended August 2,
2008. Comparable store sales decreased 11% for the month, compared to a
7% decrease for the same period last year.
July sales performance was in the range of the company’s expectations,
and reflected a continuation of recent trends in store traffic patterns.
In part, July also reflected a later back-to-school calendar and the
shift of tax-free events from July into August this year. Although the
AE business was still challenging overall, the new AE denim collection
has been well received, posting positive comparable store sales.
Total sales for the second quarter ended August 1, 2009 decreased 5% to
$657.6 million, compared to $688.8 million for the quarter ended August
2, 2008. Comparable store sales decreased 10% for the 13 week period
compared to a 9% decrease for the same period last year.
Total sales for the 26 week year-to-date period ended August 1, 2009
decreased 5% to $1.270 billion, compared to $1.329 billion for the 26
weeks ended August 2, 2008. Comparable store sales decreased 10% for the
year-to-date period compared to a 7% decline for the same period last
year.
The company now expects second quarter earnings of $0.16 per diluted
share, which includes an expected tax benefit of approximately $0.02 per
diluted share. This compares to second quarter earnings of $0.29 per
diluted share last year. This guidance excludes the possibility of
additional impairments or losses related to investment securities. The
company’s previous second quarter earnings guidance was $0.12 to $0.15
per share.
To access the company’s recorded monthly sales commentary, please dial
(866) 514-0390, or internationally dial (585) 267-8021.
The company will announce second quarter earnings on Thursday, August
27. Management will host a conference call at 9:00 a.m. Eastern Time
that morning. To listen to the call, please dial (877) 407-0789 or
internationally dial (201) 689-8562. The conference call will also be
simultaneously broadcast over the Internet at www.ae.com.
Anyone unable to listen to the call may access a replay beginning August
27, 2009 at 12:00 p.m. Eastern Time. To listen to the replay, dial (877)
660-6853, or internationally dial (201) 612-7415, and reference account
3055 and confirmation code 322154. An audio replay of the conference
call will also be available at www.ae.com.
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®
brand targets 15 to 25 year old girls and guys, with 954 stores in the
U.S. and Canada and online at www.ae.com.
aerie® by american eagle offers Dormwear® and
intimates collections for the AE® girl, with 132 standalone
stores in the U.S. and Canada and online at www.aerie.com.
MARTIN + OSA® provides clothing and accessories for 28 to 40
year old men and women at its 28 stores and online at www.martinandosa.com.
The latest brand, 77kids™ by american eagle™, is available online only
at www.77kids.com.
77kids offers “kid cool,” durable clothing and accessories for kids ages
two to 10. AE.COM®, 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 second 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
second quarter 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.
Source: American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc.
Judy Meehan, 412-432-3300