Revises Fourth Quarter EPS Guidance
PITTSBURGH--(BUSINESS WIRE)--Jan. 5, 2012--
American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total
sales for the two month November/December period ended December 31, 2011
increased 15% to $887 million, compared to $771 million for the same
period ended January 1, 2011. Comparable store sales increased 12%,
compared to a 7% decrease for the same period last year.
The holiday season started strong with a nearly 20% increase in
comparable store sales in November and record sales over Thanksgiving
weekend, fueled by strong unit sales, with customers responding
positively to the assortments and promotional events. During the
important final two weeks of December, in a significantly more
competitive environment, the company made a strategic decision to take a
more aggressive promotional stance. While impacting margins, the
decision enabled the company to generate strong unit sales, increase
market share and achieve targeted inventory levels.
The company now expects fourth quarter EPS to be in the range of $0.33
to $0.35 per diluted share, which excludes the potential impact of store
impairment charges, primarily related to aerie stand-alone stores, and
executive transition costs. The company previously expected fourth
quarter EPS to be between $0.40 and $0.44 per diluted share.
The company will release fourth quarter and annual 2011 financial
results prior to the market’s open on March 7, 2012 and will host a
conference call to review the financial results 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 five to seven minutes prior to the
scheduled start time. The conference call will also be simultaneously
broadcast over the Internet at www.ae.com.
Anyone unable to listen to the call can access a replay beginning March
7, 2012 at 12:00 p.m. Eastern Time through March 28, 2012. To listen to
the replay, dial 1-877-870-5176, or internationally dial 1-858-384-5517,
and reference confirmation code 372065. An audio replay of the
conference call will also be available at www.ae.com.
American Eagle Outfitters, Inc., through its subsidiaries, (“AEO, Inc.”)
offers high-quality, on-trend clothing, accessories and personal care
products at affordable prices. The American Eagle Outfitters® brand
targets 15 to 25 year old girls and guys, with 937 stores in the U.S.
and Canada and online at www.ae.com.
aerie® by american eagle offers Dormwear® and intimates collections for
the AE® girl, with 158 standalone stores in the U.S. and Canada and
online at www.aerie.com.
The latest brand, 77kids® by american eagle®, is available online at www.77kids.com,
as well as at 21 stores across the nation. The 77kids brand offers “kid
cool,” durable clothing and accessories for kids ages zero to 14.
AE.COM®, the online home of the brands of AEO, Inc. ships to 77
“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 fourth quarter 2011 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.
Source: American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc.
Kristen Zaccagnini, 412-432-3300