American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total
sales for the four weeks ended August 1, 2009 decreased 8% to $215.0
million, compared to $232.8 million for the four weeks ended August 2,
2008. Comparable store sales decreased 11% for the month, compared to a
7% decrease for the same period last year.
July sales performance was in the range of the company’s expectations,
and reflected a continuation of recent trends in store traffic patterns.
In part, July also reflected a later back-to-school calendar and the
shift of tax-free events from July into August this year. Although the
AE business was still challenging overall, the new AE denim collection
has been well received, posting positive comparable store sales.
Total sales for the second quarter ended August 1, 2009 decreased 5% to
$657.6 million, compared to $688.8 million for the quarter ended August
2, 2008. Comparable store sales decreased 10% for the 13 week period
compared to a 9% decrease for the same period last year.
Total sales for the 26 week year-to-date period ended August 1, 2009
decreased 5% to $1.270 billion, compared to $1.329 billion for the 26
weeks ended August 2, 2008. Comparable store sales decreased 10% for the
year-to-date period compared to a 7% decline for the same period last
year.
The company now expects second quarter earnings of $0.16 per diluted
share, which includes an expected tax benefit of approximately $0.02 per
diluted share. This compares to second quarter earnings of $0.29 per
diluted share last year. This guidance excludes the possibility of
additional impairments or losses related to investment securities. The
company’s previous second quarter earnings guidance was $0.12 to $0.15
per share.
To access the company’s recorded monthly sales commentary, please dial
(866) 514-0390, or internationally dial (585) 267-8021.
The company will announce second quarter earnings on Thursday, August
27. Management will host a conference call at 9:00 a.m. Eastern Time
that morning. To listen to the call, please dial (877) 407-0789 or
internationally dial (201) 689-8562. The conference call will also be
simultaneously broadcast over the Internet at www.ae.com.
Anyone unable to listen to the call may access a replay beginning August
27, 2009 at 12:00 p.m. Eastern Time. To listen to the replay, dial (877)
660-6853, or internationally dial (201) 612-7415, and reference account
3055 and confirmation code 322154.
