American Eagle Outfitters Reports September Sales of $246.0 Million
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Same Store Sales Were Flat to Last Year
Raises Third Quarter EPS Guidance
PITTSBURGH--(Business Wire)--
American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total sales for
the five weeks ended October 3, 2009 increased 7% to $246.0 million, compared to
$229.2 million for the five weeks ended October 4, 2008. Comparable store sales
were flat for the month, compared to a 6% decrease for the same period last
year.
Total sales for the 35 week year-to-date period ended October 3, 2009 decreased
3% to $1.823 billion, compared to $1.878 billion for the 35 weeks ended October
4, 2008. Comparable store sales decreased 8% for the year-to-date period
compared to a 7% decline for the same period last year.
September sales performance reflects continued progress within the American
Eagle Outfitters brand. Based on better-than-expected sales, management is
raising third quarter earnings guidance to a range of $0.24 to $0.26 per diluted
share, which includes a tax benefit of approximately $0.05 per diluted share
associated with the repatriation of earnings from Canada. This guidance excludes
the possibility of additional impairments or losses related to investment
securities. Previous third quarter earnings guidance was $0.22 to $0.25 per
diluted share which included a tax benefit of approximately $0.05 per diluted
share associated with the repatriation of earnings from Canada. This compares to
third quarter earnings of $0.30 per diluted share last year.
To access the company`s recorded monthly sales commentary, please dial (866)
514-0390, or internationally dial (585) 267-8021.
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 953 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 133 standalone stores in the U.S. and Canada and online
at www.aerie.com. MARTIN + OSA® provides clothing and accessories for 28 to 40
year old men and women at its 28 stores and online at www.martinandosa.com. The
latest brand, 77kids by american eagle, is available online only at
www.77kids.com. 77kids offers "kid cool," durable clothing and accessories for
kids ages two to 10. AE.COM®, the online home of the brands of AEO, Inc. ships
to more than 60 countries worldwide.
"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 third
quarter earnings. 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 third quarter earnings expectations 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.
American Eagle Outfitters, Inc.
Judy Meehan, 412-432-3300
Copyright Business Wire 2009
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