American Eagle Outfitters, Inc. (NYSE: AEO) announced that it is raising
its second quarter adjusted EPS outlook to $0.19 to $0.21, compared to
adjusted EPS of $0.13 last year. The revised outlook is primarily due to
stronger than expected sales. The company’s previous second quarter
adjusted EPS guidance was $0.13 to $0.15 per diluted share. As
previously announced, results exclude the 77kids business and
restructuring charges.
Net sales for the second quarter increased 11% to $740 million compared
to $669 million last year. Comparable store sales increased 9%,
including sales from AEO direct.
Robert Hanson, chief executive officer stated, “Continuing the strength
from the first quarter, we saw improvements across our product
assortments, our brands and geographic regions during the second
quarter. We successfully pulled back promotional activity, while
maintaining increased traffic and transactions. As we look forward, our
greater goal is to deliver consistent performance and strong returns
over the long term.”
The company expects to provide a third quarter outlook with the second
quarter earnings release on August 22nd. Management 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 North America, and ships to 77 countries worldwide through its
websites. American Eagle Outfitters and Aerie merchandise also is
available at approximately 35 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 second 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.
