(Filed Under wholesale Lingerie News). Aerie net revenue increased 28% and operating income rose 46% in the third quarter.

Aerie sales for the thirteen weeks ended October 30, 2021 jumped to $315,049,000 from $246,748,000 for the same weeks last year. Meanwhile, third quarter operating income for lingerie division of American Eagle Outfitters jumped to $52,021,000 from $35,738,000 last year.

American Eagle as a whole, which includes a variety of other apparel categories, earned $152.2 million in the quarter on total sales of $1.27 billion, compared to a profit of $58.1 million on sales of $1.03 billion in the same period last year.

“As strong demand for our merchandise and brands continues, I’m very pleased to report another quarter of record revenue and profit,” stated Jay Schottenstein, AEO’s CEO. “The work on our Real Power. Real Growth value creation plan is driving meaningful improvements to our profitability through real estate and inventory optimization; omni-channel and customer focus; and our supply chain initiatives. The power of our brands, operations and talent are clearly evident and we are intensely focused on ensuring these strengths continue to take AEO to new heights.”

“This quarter, we took an important next step in our supply chain transformation with the planned acquisition of Quiet Logistics to ensure ongoing efficiencies and procure a state-of-the-art logistics platform with meaningful growth potential. With our customer-first focus, the teams did a great job bringing in goods to meet strong demand this holiday season. I am extremely proud of the team’s ability to execute with precision at a time of volatility and am confident that we will exceed $600 million of operating income for the year, well above the $550 million 2023 target.” — NM

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Published 11-23-2021 by Nick Monjo