Comparable Store Sales Increase 5%
EPS Expected to be $0.26 to $0.27
PITTSBURGH, Nov 02, 2011 (BUSINESS WIRE) --American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total
sales for the third quarter ended October 29, 2011 increased 11% to $832
million, compared to $752 million for the quarter ended October 30,
2010. Comparable store sales increased 5% for the quarter, compared to a
1% increase for the same period last year. Including AEO direct,
comparable store sales increased 7% for the quarter.
Third quarter sales results reflected strength across brands, with AE
posting a 5% comp increase and aerie comps rising 8%. AEO direct posted
a 21% sales increase in the third quarter.
Jim O'Donnell, chief executive officer commented, "Our third quarter
results reflect stronger merchandise assortments and targeted promotions
supported by strategic inventory investments. We delivered double-digit
sales growth and improved comp performance, despite a continuing
difficult economic environment. Perhaps equally gratifying, sales
momentum continued beyond fall, and we have seen a positive customer
response to the initial holiday assortment."
Total sales for the year-to-date period ended October 29, 2011 increased
3% to $2.12 billion, compared to $2.05 billion for the period ended
October 30, 2010. Comparable store sales decreased 1% for the
year-to-date period, compared to a 1% increase for the same period last
year. Including AEO direct, comparable store sales increased 1% for the
period.
Based on strong sales, the company now expects third quarter EPS of
$0.26 to $0.27 per diluted share, compared to the company's previous EPS
guidance of $0.22 to $0.27 per diluted share.
The company also announced today that it will release third quarter and
nine month financial results prior to the market's open on November 30,
2011 and will host a conference call to review the financial results at
9:00 a.m. Eastern Time on that date. To listen to the call, dial
1-877-407-0789 or internationally dial 1-201-689-8562 five to seven
minutes prior to the scheduled start time. The conference call will also
be simultaneously broadcast over the Internet at www.ae.com.
Anyone unable to listen to the call can access a replay beginning
November 30, 2011 at 12:00 p.m. Eastern Time through December 21, 2011.
To listen to the replay, dial 1-877-870-5176, or internationally dial
1-858-384-5517, and reference confirmation code 372061. 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(R)
brand targets 15 to 25 year old girls and guys, with 937 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 158 standalone
stores in the U.S. and Canada and online at www.aerie.com.
The latest brand, 77kids(R) by american eagle(R), is
available online at www.77kids.com,
as well as at 21 stores across the nation. The 77kids brand offers "kid
cool," durable clothing and accessories for kids ages zero to 14. AE.COM(R),
the online home of the brands of AEO, Inc. ships to 77 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 results. 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
operating, financial and capital plans 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