American Eagle Outfitters, Inc. Provides Fourth Quarter Update
January 14 2019 - 8:01AM
Business Wire
Quarter-to-Date Comp Sales Rise 6%
Reiterates EPS Guidance of 40 to 42 cents
Completes Additional 4 Million Share Repurchase
American Eagle Outfitters, Inc. (NYSE:AEO) today announced that
fourth quarter comparable sales to date, through Sunday, January
13, 2019, have increased 6%, following an 8% comp increase last
year. The company reiterated its previously issued fourth quarter
EPS guidance in the range of $0.40 to $0.42 per diluted share.
In December, AEO repurchased an additional 4 million shares,
bringing the year-to-date total to 7.3 million shares repurchased
for a total of $144 million.
“Fueled by our leading brands and a favorable customer response
to the merchandise collections, I’m pleased to report another
record holiday season,” commented Jay Schottenstein, AEO’s Chief
Executive Officer. “The teams delivered positive results across
brands and channels, demonstrating consistent business performance.
We remain focused on driving profitable revenue growth and
delivering shareholder value.”
The company will release fourth quarter and fiscal 2018 results
on March 6, 2019 and will host a conference call to review
financial results on that date.
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® 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 and Aerie
merchandise also is available at more than 200 international
locations operated by licensees in 25 countries. For more
information, please visit www.aeo-inc.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995This release and related statements by management
contain forward-looking statements (as such term is defined in the
Private Securities Litigation Reform Act of 1995), which represent
our expectations or beliefs concerning future events, including
fourth quarter 2018 results. All forward-looking statements made by
the company involve material risks and uncertainties and are
subject to change based on many important factors, some of which
may be beyond the company’s control. Words such as "estimate,"
"project," "plan," "believe," "expect," "anticipate," "intend,"
“potential,” and similar expressions may identify forward-looking
statements. Except as may be required by applicable law, we
undertake no obligation to publicly update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise and even if experience or future changes
make it clear that any projected results expressed or implied
therein will not be realized. The following factors, in addition to
the risks disclosed in Item 1A., Risk Factors, of the company’s
Annual Report on Form 10-K for the fiscal year ended February
3, 2018 and in any subsequently-filed Quarterly Reports on
Form 10-Q filed with the Securities and Exchange
Commission in some cases have affected, and in the future could
affect, the company's financial performance and could cause actual
results for fourth quarter 2018 and beyond to differ
materially from those expressed or implied in any of the
forward-looking statements included in this release or otherwise
made by management: the risk that the company’s operating,
financial and capital plans may not be achieved; our inability to
anticipate customer demand and changing fashion trends and to
manage our inventory commensurately; seasonality of our business;
our inability to achieve planned store financial performance; our
inability to react to raw material cost, labor and energy cost
increases; our inability to gain market share in the face of
declining shopping center traffic; our inability to respond to
changes in e-commerce and leverage omni-channel demands; our
inability to expand internationally; difficulty with our
international merchandise sourcing strategies; challenges with
information technology systems, including safeguarding against
security breaches; and changes in global economic and financial
conditions, and the resulting impact on consumer confidence and
consumer spending, as well as other changes in consumer
discretionary spending habits, which could have a material adverse
effect on our business, results of operations and liquidity.
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version on businesswire.com: https://www.businesswire.com/news/home/20190114005431/en/
Olivia Messina412-432-3300LineMedia@ae.com
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