AEO reported that net sales for the month decreased 9% to $145 million compared to the same period from 2010. Same store sales decreased 6%, compared to a 10% decrease in January 2010. This 6% decline beat analysts’ expectations of an 8.3% decrease. AEO also remains optimistic that its fourth quarter earnings per share will be on the high end of the $0.41 to $0.43 guidance. After this month, AEO will no longer be reporting monthly sales.
AEO reported net sales of $499 million for the month, which is a decrease of 6% from the same period last year. Same store sales decreased 11% for the month, compared to a 7% increase from the same period last year. This was less than expectations of a 1.9% decrease in same store sales. Based on December performance, AEO has lowered its expectations of fourth quarter earnings to $0.41 to $0.43 per share.
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AEO reported that total sales for third quarter increased 2% to $752 million, compared to third quarter sales of 2009. Comparable stores sales increased 1% compared to a 4% decrease for the same period last year. October sales decreased 1% to $188 million compared to the same period from a year ago. Comparable store sales decreased 2%, compared to a 5% decrease from October 2009.
Chairman of the Board, Jay Schottenstein, purchased 500,000 shares, paying $13.58 per share for a total amount of $6.8 million. Vice Chairman Roger Markfield also purchased 10,000 shares at $13.52 for a total amount of $135,200. Director Michael Jesselson also purchased 89,800 shares at $14.93.
AEO reported that its total sales for the month ended August 28, 2010 were $312 million, which is a 3% increase from the $304 million of August 2009. Comparable store sales increased 1%, compared to a 7% decrease for the same period last year.
AEO forecasted adjusted earnings of $0.12 to $0.16 per diluted share, reflecting margin pressure related to weaker business trends early in the quarter.
AEO saw profits soar this quarter due to stronger retail climate as well as an end to product discounting.
The price was at its lowest
In the 4th quarter of its fiscal year (ended January 31, 2009) AEO reported sales of 19 cents per share, which met analyst expectations. The company has lowered its fiscal 2009 total sales to 4 to 7 cents per share, higher than Wall Street estimates of 6 cents per share. The consensus in the market is expectations may be low enough to make investors comfortable purchasing AEO stock.
American Eagle reported a comparable sales decline of 7% in the third quarter of fiscal 2008, despite net sales increasing 1% over the same period in 2007. Total revenue for the quarter was $754 million, but analysts had been $758.
American Eagle announced a 7% decline in same store sales for the month of July, as net sales also decreased, although less dramatically (>1%).
AEO was upgraded from "Underperform" to "Hold" by Needham & Co., sparking a jump in its share price.
AEO reported a 5% decrease in net sales and an even worse 11% decline in same store sales for the month of June, as shoppers turned away from higher-priced apparel retailers and towards department and discount stores.
American Eagle reported a 44% decline in net profit for the first quarter of fiscal 2008, for earnings per share of $0.21. However, analysts had been anticipating EPS of $0.19, and AEO's shares rose significantly as the company beat expectations.
The winter season is a tough time to invest in clothing companies
Because of a broadening lack of demand and weakening economy, American Eagle stands to lose a fair portion of market value as consumers move away from higher-end apparel.
American Eagle Outfitters announced that it would be launching a children's brand in 2008 called 77kids (AEO was founded in 1977, hence the name). The concept will be first unveiled as an online store in 2008 which will be followed by physical store locations in 2009.
For the third quarter of fiscal 2007, AE reported that sales rose 7% to $744.4 million compared with the same quarter of FY06. However, operating margin for the quarter fell from 21.9% in 3Q FY06 to 20.3% this quarter.
American Eagle's Earnings for the 2nd Quarter tops analysts targets, but the outlook on earnings for the 3rd Quarter fell below analysts expectations.