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Aerie: by American Eagle Aerie: by American Eagle Aerie: by American Eagle Aerie: by American Eagle Aerie: by American Eagle
Aerie: by American Eagle

Added: Jun 2010
Aerie: by American Eagle

Added: Jun 2010
Aerie: by American Eagle

Added: Jun 2010
Aerie: by American Eagle

Added: Jun 2010
Aerie: by American Eagle

Added: Jun 2010

current news

Aerie Comps Up 14%, Many Stores To Open

(Filed Under Financial and General Interest News). Aerie comparable sales were up again in the first quarter, rising 14% and “marking the 18th consecutive quarter of double-digit comps,” according to Jay Schottenstein, chairman and CEO of parent company American Eagle Outfitters. Last year Aerie’s first quarter comps were up 38%.

The company reported it had opened four new Aerie stand-alone stores during the quarter, ending the period with 119 Aerie stand-alone stores. It also projected that during the rest of fiscal 2019 it would open 31 to 36 more Aerie stand-alone locations while closing five to ten in the next three quarters.

During the period ended May 4, AEO also added four new Aerie side-by-side locations (which are shops located within American Eagle apparel stores). It ended the period with 151of those locations, and said it expect to add 21 to 31 more Aerie side-by-side shops by the end of the year.

“Aerie’s consistent double-digit growth has been fueled by the brand’s strong appeal to both existing and new customers,” explained Schottenstein.

Parent company AEO also reported overall increases in both sales and net income, as well as the 17th consecutive quarter of positive comparable sales for the company as a whole. Net income was $40.8 million on sales of $886.3 million, compared to a profit of $39.9 million on sales of $823.0 million in the quarter ended May 5, 2018.

“2019 is off to a positive start and we are especially pleased to deliver first quarter sales and EPS growth ahead of our expectations. American Eagle and Aerie continue to leverage strong brand equity, compelling product, and leading customer engagement across stores and digital,” declared Schottenstein. “Looking ahead, we see significant runway for each of our brands. We are committed to improved profit flow through as we begin to lap our 2018 investments, to support continued earnings growth and attractive shareholder returns.” — NM

more Financial and General Interest News >>

Published 06-05-2019 by Nick Monjo

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