Same Store Sales Decrease 11%Reiterates Second Quarter EPS Guidance
PITTSBURGH--(BUSINESS WIRE)--Jul. 9, 2009--
American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total
sales for the five weeks ended July 4, 2009 decreased 4% to $246.1
million, compared to $255.9 million for the five weeks ended July 5,
2008. Comparable store sales decreased 11% for the month, compared to an
11% decrease for the same period last year.
June sales were on the low end of management’s expectations, due
primarily to weak store traffic, particularly during the latter part of
the month.
Total sales for the 22 week year-to-date period ended July 4, 2009
decreased 4% to $1.054 billion, compared to $1.096 billion for the 22
weeks ended July 5, 2008. Comparable store sales decreased 10% for the
year-to-date period compared to an 8% decline for the same period last
year.
The company is reiterating its second quarter earnings guidance of $0.12
to $0.15 per diluted share, compared to earnings of $0.29 per diluted
share last year. This guidance excludes the possibility of additional
impairments or losses related to investment securities.
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®
brand targets 15 to 25 year old girls and guys, with 953 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 131 standalone
stores in the U.S. and Canada and online at www.aerie.com.
MARTIN + OSA® provides Refined Casual™ fashions 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