American Eagle Outfitters Announces Fourth Quarter Revenue and Profit Tracking at the High End of Guidance
09 Janvier 2023 - 02:00PM
Business Wire
American Eagle Outfitters, Inc. (NYSE:AEO) today announced that
fourth quarter-to-date brand revenue, through Saturday, January 7,
2023, is down approximately 3%, on the higher end of our
expectations, with American Eagle tracking slightly ahead and Aerie
in line with expectations. Quiet Logistics is expected to add 2
percentage points to fourth quarter brand revenue. Gross margins
are now expected to be on the high end of the company’s guidance of
32-33%, reflecting controlled promotions fueled by strong inventory
management. Current inventory is well-positioned with quarter-end
inventories expected to be down compared to last year, in-line with
prior guidance.
“Following record performance last year, we achieved our second
highest holiday sales period in company history. I am pleased to
see profit margins tracking at the high end of our expectations,
powered by excellent inventory management and promotional
discipline,” commented Jay Schottenstein, AEO’s Executive Chairman
of the Board and Chief Executive Officer. “Looking ahead, we are
focused on delivering a leading customer experience across brands,
while prioritizing free cash flow and shareholder returns.”
The company will release fourth quarter and fiscal 2022 results
on March 1, 2023 and will host a conference call to review
financial results on that date.
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® and Aerie® brands. Our purpose is to show the
world that there’s REAL power in the optimism of youth. The company
operates stores in the United States, Canada, Mexico, Hong Kong and
Japan, and ships to 81 countries worldwide through its websites.
American Eagle and Aerie merchandise also is available at more than
260 international locations operated by licensees in 26 countries.
In 2022, AEO released its first annual Building a Better World
report, which outlines two decades of ESG achievements through the
company’s Planet, People and Practices initiatives. For more
information, please visit www.aeo-inc.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
This release and related statements by management contain
forward-looking statements (as such term is defined in the Private
Securities Litigation Reform Act of 1995), which represent our
expectations or beliefs concerning future events, including fourth
quarter and annual fiscal 2022 results. All forward-looking
statements made by the company involve material risks and
uncertainties and are subject to change based on many important
factors, some of which may be beyond the company’s control. Words
such as "estimate," "project," "plan," "believe," "expect,"
"anticipate," "intend," “potential,” and similar expressions may
identify forward-looking statements. Except as may be required by
applicable law, we undertake no obligation to publicly update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise and even if experience or
future changes make it clear that any projected results expressed
or implied therein will not be realized. The following factors, in
addition to the risks disclosed in Item 1A., Risk Factors, of our
Annual Report on Form 10-K for the fiscal year ended January 29,
2022 and in any other filings that we may make with the Securities
and Exchange Commission in some cases have affected, and in the
future could affect, the company's financial performance and could
cause actual results for fiscal 2022 and beyond to differ
materially from those expressed or implied in any of the
forward-looking statements included in this release or otherwise
made by management: the negative impacts of the COVID-19 pandemic
and related operational disruptions; the risk that the company’s
operating, financial and capital plans may not be achieved; our
inability to anticipate customer demand and changing fashion trends
and to manage our inventory commensurately; seasonality of our
business; our inability to achieve planned store financial
performance; our inability to react to raw material cost, labor and
energy cost increases; our inability to gain market share in the
face of declining shopping center traffic; our inability to respond
to changes in e-commerce and leverage omni-channel demands; our
inability to expand internationally; difficulty with our
international merchandise sourcing strategies; challenges with
information technology systems, including safeguarding against
security breaches; and global economic, public health, social,
political and financial conditions, and the resulting impact on
consumer confidence and consumer spending, as well as other changes
in consumer discretionary spending habits, which could have a
material adverse effect on our business, results of operations and
liquidity.
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version on businesswire.com: https://www.businesswire.com/news/home/20230108005069/en/
Olivia Messina 412-432-3300 LineMedia@ae.com
American Eagle Outfitters (NYSE:AEO)
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