Same Store Sales Were Flat to Last Year
Raises Third
Quarter EPS Guidance
PITTSBURGH--(BUSINESS WIRE)--Oct. 8, 2009--
American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total
sales for the five weeks ended October 3, 2009 increased 7% to $246.0
million, compared to $229.2 million for the five weeks ended October 4,
2008. Comparable store sales were flat for the month, compared to a 6%
decrease for the same period last year.
Total sales for the 35 week year-to-date period ended October 3, 2009
decreased 3% to $1.823 billion, compared to $1.878 billion for the 35
weeks ended October 4, 2008. Comparable store sales decreased 8% for the
year-to-date period compared to a 7% decline for the same period last
year.
September sales performance reflects continued progress within the
American Eagle Outfitters brand. Based on better-than-expected sales,
management is raising third quarter earnings guidance to a range of
$0.24 to $0.26 per diluted share, which includes a tax benefit of
approximately $0.05 per diluted share associated with the repatriation
of earnings from Canada. This guidance excludes the possibility of
additional impairments or losses related to investment securities.
Previous third quarter earnings guidance was $0.22 to $0.25 per diluted
share which included a tax benefit of approximately $0.05 per diluted
share associated with the repatriation of earnings from Canada. This
compares to third quarter earnings of $0.30 per diluted share last year.
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 133 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 third 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
third 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