Same Store Sales Increase 15%
Reiterates First Quarter
EPS Guidance
PITTSBURGH, Apr 08, 2010 (BUSINESS WIRE) --American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total
sales for the five weeks ended April 3, 2010 increased 15% to $280
million, compared to $243 million for the five weeks ended April 4,
2009. Consolidated comparable store sales increased 15% for the month,
compared to a 16% decrease for the same period last year.
Total sales for the year-to-date nine week period ended April 3, 2010
increased 11% to $468 million, compared to $420 million for the nine
week period ended April 4, 2009. Comparable store sales increased 11%
for the year-to-date period compared to the same nine week period last
year.
The company is reiterating its first quarter non-GAAP earnings guidance
of $0.15 to $0.17 per diluted share. This guidance excludes estimated
charges and an operating loss related to the MARTIN+OSA business as
outlined in the table which follows. These estimates are preliminary and
based on a number of significant assumptions and could change
materially. First quarter guidance compares to non-GAAP earnings of
$0.11 per diluted share, which excluded a tax benefit, a realized loss
related to the sale of investment securities and operating loss related
to MARTIN+OSA, as outlined in the table which follows.
To access the company's recorded monthly sales commentary, please dial
(866) 514-0390, or internationally dial (585) 267-8021.
Non-GAAP Measures
This press release includes information on non-GAAP earnings per diluted
share information. This measure is not based on any standardized
methodology prescribed by U.S. generally accepted accounting principles
("GAAP") and is not necessarily comparable to similar measures presented
by other companies. The company believes that this non-GAAP information
is useful as an additional means for investors to evaluate the company's
operating performance, when reviewed in conjunction with the company's
GAAP financial statements. This amount is not determined in accordance
with GAAP and therefore, should not be used exclusively in evaluating
the company's business and operations.
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American Eagle Outfitters, Inc.
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GAAP to Non-GAAP reconciliation
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(unaudited)
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13 Weeks Ended
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13 Weeks Ended
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13 Weeks Ended
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May 1, 2010
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May 1, 2010
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May 2, 2009
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Low Range
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High Range
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Diluted EPS on a GAAP basis
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$ -
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$0.02
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$0.11
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Add back: Impact of store impairment
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0.05
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0.05
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-
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Add back: MARTIN+OSA operating loss and shut down costs
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0.10
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0.10
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0.03
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0.15
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0.17
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0.14
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Deduct: Tax Benefit
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-
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-
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(0.04)
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Add back: Impact of realized loss related to sale of investment
securities
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-
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-
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0.01
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Non-GAAP Diluted EPS
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$0.15
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$0.17
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$0.11
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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 938 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 138 standalone
stores in the U.S. and Canada and online at www.aerie.com.
The latest brand, 77kids by american eagle(R), is available
online only at www.77kids.com.
The 77kids(R) brand 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 first 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
first 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