American Eagle Outfitters Provides Fourth Quarter Update, Reiterates EPS Guidance
January 08 2018 - 4:37PM
Business Wire
American Eagle Outfitters, Inc. (NYSE:AEO) today announced that
fourth quarter comparable sales to date have increased 8%. The
company is reiterating its previously issued fourth quarter EPS
guidance in the range of $0.42 to $0.44 per diluted share. This
compares to Adjusted EPS* of $0.39 last year.
Jay Schottenstein, Chief Executive Officer commented, “We are
extremely pleased to report a successful holiday season with record
sales and strong momentum across the American Eagle and Aerie
brands. Customers responded well to our merchandise offerings,
which fueled positive traffic both online and in stores.”
Earnings guidance excludes the impact of tax reform and
potential asset impairment and restructuring charges. The company
will release fourth quarter and fiscal 2017 results on March 8,
2018 and will host a conference call to review financial results on
that date.
*Adjusted amounts are based on Non-GAAP results, as presented in
the accompanying GAAP to Non-GAAP reconciliation.
Non-GAAP Measures
This press release includes information on non-GAAP financial
measures (“non-GAAP” or “adjusted”), including earnings per share
information and the consolidated results of operations excluding
non-GAAP items. These financial measures are not based on any
standardized methodology prescribed by U.S. generally accepted
accounting principles (“GAAP”) and are not necessarily comparable
to similar measures presented by other companies. The company
believes that this non-GAAP information is useful as an additional
means for investors to evaluate the company’s operating
performance, when reviewed in conjunction with the company’s GAAP
financial statements. These amounts are not determined in
accordance with GAAP and therefore, should not be used exclusively
in evaluating the company’s business and operations.
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global
specialty retailer offering high-quality, on-trend clothing,
accessories and personal care products at affordable prices under
its American Eagle Outfitters® and Aerie® brands. The company
operates more than 1,000 stores in the United States, Canada,
Mexico, China and Hong Kong, and ships to 81 countries worldwide
through its websites. American Eagle Outfitters and Aerie
merchandise also is available at more than 200 international
locations operated by licensees in 24 countries. For more
information, please visit www.ae.com.
"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, including fourth quarter 2017 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.
AMERICAN EAGLE OUTFITTERS, INC. GAAP TO
NON-GAAP RECONCILIATION (unaudited)
13 Weeks
Ended January 28, 2017 Diluted income per
common share GAAP Basis $ 0.30 Add:
Asset Impairment and Restructuring Charges(1): 0.07 Add: Tax (2):
0.02
Non-GAAP Basis $ 0.39
(1) - $21.2 million pre-tax asset
impairments and restructuring charges relating to our wholly-owned
businesses in the United Kingdom and Asia.
(2) - GAAP tax rate included impact of
valuation allowances on asset impairment and restructuring charges.
Excluding the impact of those items resulted in a 33.9% tax rate
for the quarter.
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version on businesswire.com: http://www.businesswire.com/news/home/20180108006861/en/
American Eagle Outfitters, Inc.Olivia Messina, 412-432-3300
American Eagle Outfitters (NYSE:AEO)
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