PITTSBURGH--(BUSINESS WIRE)--Nov. 6, 2013--
American Eagle Outfitters, Inc. (NYSE: AEO) is updating its third
quarter EPS outlook to $0.19 per diluted share, which excludes non-cash
charges associated with closing a distribution center, as previously
disclosed. This compares to EPS from continuing operations of $0.41 for
the same period last year. The company’s previous EPS guidance was $0.14
to $0.16. The revised outlook reflects slightly better than
expected margin results.
Total net revenue for the thirteen weeks ended November 2, 2013
decreased 6% to $857 million from $910 million for the thirteen weeks
ended October 27, 2012. Total consolidated comparable sales decreased
5%, including sales from AEO direct, against a 10% comparable sales
increase last year. AEO direct sales increased 17% during the period.
Third quarter 2013 comparable sales are compared to the 13 weeks ended
November 3, 2012.
Robert Hanson
, CEO, commented, “Our third quarter results are clearly
unsatisfactory. Yet, in an extremely challenging environment, our bottom
line results are slightly ahead of our prior expectations and we ended
the period with clean inventory. We remain highly focused on
strengthening our merchandising, marketing and customer service
execution, while maintaining disciplined inventory and expense
management.”
Management will provide a business update and fourth quarter earnings
outlook with the third quarter earnings release on Friday, December 6th.
The company will host a conference call and real time webcast 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 or go to www.ae.com
to access the webcast and audio replay.
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global
specialty retailer offering high-quality, on-trend clothing, accessories
and personal care products at affordable prices under its American Eagle
Outfitters® and Aerie® brands. The company operates more than 1,000
stores in the United States, Canada, Mexico, China, and Hong Kong, and
ships to 81 countries worldwide through its websites. American Eagle
Outfitters and Aerie merchandise also is available at approximately 61
international franchise stores in 12 countries. For more information,
please visit www.ae.com.
"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