AEO Inc. Reports Record Second Quarter Revenue and Meaningful Operating Margin Expansion; Updates Full-Year Operating Income Outlook to the High-End of Prior Guidance
American Eagle Outfitters (NYSE: AEO) reported record second quarter revenue of $1.3 billion, up 8% year-over-year, with operating profit increasing 55% to $101 million. Aerie achieved all-time high Q2 revenue, with comps up 4%, while American Eagle saw strong momentum with comps increasing 5%. The company updated its full-year operating income outlook to $455 to $465 million, the high-end of prior guidance.
Key financial highlights include:
- Gross profit increased 10% to $499 million, with margin expanding 90 basis points to 38.6%
- SG&A expense leveraged 90 basis points
- Operating margin expanded 240 basis points to 7.8%
- Diluted EPS was $0.39
- Inventory increased 4% to $664 million
AEO returned $120 million to shareholders in Q2 through share repurchases and dividends.
American Eagle Outfitters (NYSE: AEO) ha riportato un fatturato record per il secondo trimestre di $1,3 miliardi, in aumento dell'8% rispetto all'anno precedente, con un profitto operativo in crescita del 55% a $101 milioni. Aerie ha raggiunto il suo fatturato più alto di sempre nel Q2, con un incremento delle vendite comparabili del 4%, mentre American Eagle ha mostrato una forte dinamicità con vendite comparabili in aumento del 5%. L'azienda ha aggiornato le sue previsioni di reddito operativo per l'intero anno a $455 a $465 milioni, al limite superiore della precedente guida.
I principali punti salienti finanziari includono:
- Il profitto lordo è aumentato del 10% a $499 milioni, con un margine che si è espanso di 90 punti base, arrivando al 38,6%
- Le spese SG&A hanno beneficiato di una leva di 90 punti base
- Il margine operativo è aumentato di 240 punti base, raggiungendo il 7,8%
- L'EPS diluito è stato di $0,39
- Le scorte sono aumentate del 4% a $664 milioni
AEO ha restituito $120 milioni agli azionisti nel Q2 tramite riacquisti di azioni e dividendi.
American Eagle Outfitters (NYSE: AEO) reportó un ingreso récord de segundo trimestre de $1.3 mil millones, un aumento del 8% interanual, con una ganancia operativa que aumentó un 55% a $101 millones. Aerie alcanzó ingresos del Q2 más altos de todos los tiempos, con comparaciones en aumento del 4%, mientras que American Eagle vio un fuerte impulso con comparaciones aumentando un 5%. La compañía actualizó su proyección de ingresos operativos para todo el año a $455 a $465 millones, en el extremo superior de la guía anterior.
Los aspectos financieros clave incluyen:
- El beneficio bruto aumentó un 10% a $499 millones, con un margen expandiéndose 90 puntos básicos al 38.6%
- Los gastos SG&A se apalancaron en 90 puntos básicos
- El margen operativo se expandió 240 puntos básicos al 7.8%
- El EPS diluido fue de $0.39
- El inventario aumentó un 4% a $664 millones
AEO devolvió $120 millones a los accionistas en el Q2 a través de recompras de acciones y dividendos.
아메리칸 이글 아울피터스 (NYSE: AEO)는 2분기 기록적인 매출 $13억 달러를 보고했으며, 이는 전년 대비 8% 증가했습니다. 운영 이익은 55% 증가하여 $1억 100만 달러에 이릅니다. 에리(Aerie)는 역사상 가장 높은 2분기 매출을 달성했으며, 비교 매출이 4% 증가했습니다. 아메리칸 이글은 강력한 성장세를 보이며 비교 매출이 5% 증가했습니다. 이 회사는 전체 연간 운영 소득 전망을 $4억 5500만에서 $4억 6500만 달러로 업데이트했으며, 이는 이전 지침의 상한입니다.
주요 재무 하이라이트는 다음과 같습니다:
- 총 이익은 10% 증가하여 $4억 9900만 달러가 되었으며, 마진은 90 베이십 포인트 확장되어 38.6%에 이릅니다.
- SG&A 비용은 90 베이십 포인트를 활용했습니다.
- 운영 마진은 240 베이십 포인트 확장되어 7.8%가 되었습니다.
- 희석 EPS는 $0.39였습니다.
- 재고는 4% 증가하여 $6억 6400만 달러에 달했습니다.
AEO는 2분기 동안 주식 매입 및 배당금을 통해 주주에게 $1억 2000만 달러를 환원했습니다.
American Eagle Outfitters (NYSE: AEO) a annoncé un chiffre d'affaires record de 1,3 milliard de dollars pour le deuxième trimestre, en hausse de 8 % par rapport à l'année précédente, avec un bénéfice opérationnel en hausse de 55 % à 101 millions de dollars. Aerie a atteint un chiffre d'affaires record pour le Q2, avec des ventes comparables en hausse de 4 %, tandis qu'American Eagle a connu un fort élan avec des ventes comparables en hausse de 5 %. L'entreprise a mis à jour ses prévisions de revenu opérationnel pour l'année entière entre 455 et 465 millions de dollars, au sommet de ses prévisions précédentes.
Les faits saillants financiers incluent :
- Le bénéfice brut a augmenté de 10 % pour atteindre 499 millions de dollars, avec un élargissement de la marge de 90 points de base à 38,6 %.
- Les dépenses SG&A ont été levées de 90 points de base.
- La marge opérationnelle s'est élargie de 240 points de base à 7,8 %.
- Le BPA dilué était de 0,39 dollar.
- Les stocks ont augmenté de 4 % pour atteindre 664 millions de dollars.
AEO a restitué 120 millions de dollars aux actionnaires au T2 par le biais de rachats d'actions et de dividendes.
American Eagle Outfitters (NYSE: AEO) meldete einen Rekordumsatz im zweiten Quartal von 1,3 Milliarden Dollar, was einem Anstieg von 8 % im Jahresvergleich entspricht, während der operative Gewinn um 55 % auf 101 Millionen Dollar stieg. Aerie erzielte im Q2 einen historischen Höchstumsatz mit einem Anstieg der vergleichbaren Umsätze um 4 %, während American Eagle starken Schwung mit einem Anstieg der vergleichbaren Umsätze um 5 % verzeichnete. Das Unternehmen hat die Prognose für das operative Ergebnis für das Gesamtjahr auf 455 bis 465 Millionen Dollar aktualisiert, was dem oberen Ende der vorherigen Prognose entspricht.
Wichtige finanzielle Kennzahlen umfassen:
- Der Bruttogewinn stieg um 10 % auf 499 Millionen Dollar, mit einer Erhöhung der Marge um 90 Basispunkte auf 38,6 %.
- Die SG&A-Ausgaben wurden um 90 Basispunkte gehebelt.
- Die operative Marge erweiterte sich um 240 Basispunkte auf 7,8 %.
- Der verwässerte EPS betrug 0,39 Dollar.
- Der Lagerbestand stieg um 4 % auf 664 Millionen Dollar.
AEO gab im Q2 120 Millionen Dollar an die Aktionäre in Form von Aktienrückkäufen und Dividenden zurück.
- Record second quarter revenue of $1.3 billion, up 8% year-over-year
- Operating profit increased 55% to $101 million
- Aerie achieved all-time high Q2 revenue with comps up 4%
- American Eagle comps increased 5%
- Gross margin expanded 90 basis points to 38.6%
- Operating margin expanded 240 basis points to 7.8%
- Updated full-year operating income outlook to $455-$465 million, the high-end of prior guidance
- Returned $120 million to shareholders through share repurchases and dividends in Q2
- Inventory increased 4% to $664 million
Insights
AEO's Q2 results demonstrate robust performance, with record revenue of
The company's updated full-year operating income outlook to
With a
AEO's performance is impressive given the challenging retail environment. Both Aerie and American Eagle brands showed strength, with comparable sales up
The company's focus on "Powering Profitable Growth" strategy seems to be paying off, with six consecutive quarters of record revenue. The emphasis on quality, style and value positions AEO well in the current consumer landscape where shoppers are increasingly price-conscious.
However, the flat to slightly up Q3 revenue guidance suggests potential headwinds. Investors should monitor how AEO navigates the "dynamic macroeconomic environment" mentioned by the CEO.
AEO's results reflect a strong consumer appetite for its offerings, despite inflationary pressures. The
The company's share repurchase program, with
Looking ahead, the projected
-
Record second quarter revenue of
$1.3 billion 8% to last year -
Operating profit of
$101 million 55% to last year -
Aerie achieved all-time high second quarter revenue, with comps up
4% -
American Eagle continued to see strong momentum, with comps increasing
5% -
Updates full-year operating income outlook to
$455 $465 million
“Our Powering Profitable Growth strategy is off to a great start, locking in a strong first half and setting us on track to achieve the high end of our prior operating profit outlook for 2024. The second quarter marked our sixth consecutive quarter of record revenue and we successfully leveraged our cost base – advancing a number of strategic priorities to fuel growth across brands and channels and drive operating efficiencies,” commented Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer.
“I am pleased with the positive reception we’ve seen to our early Fall collections. Our winning formula of outstanding quality and style offered at a great value remains a cornerstone of our brands, positioning us perfectly for today’s consumers. In a dynamic macroeconomic environment, we will remain disciplined and focused on delivering profitable growth and long-term shareholder value,” he continued.
Second Quarter 2024 Results:
- Second quarter 2024 results are presented for the 13 weeks ended August 3, 2024 compared to the 13 weeks ended July 29, 2023. Comparable sales metrics are presented for the 13 weeks ended August 3, 2024 compared to the 13 weeks ended August 5, 2023.
-
Total net revenue of
$1.3 billion 8% . This included an approximately$55 million -
Store revenue rose
7% . Digital revenue increased12% . -
Aerie revenue of
$416 million 9% , with comp sales up4% . American Eagle revenue of$828 million 8% , with comp sales growing5% . -
Gross profit of
$499 million 10% , reflecting a gross margin rate of38.6% , expanding 90 basis points. Merchandise margins increased, led by favorable product costs. Gross margin expansion also reflected leverage on expenses, primarily in rent and digital delivery costs. -
Selling, general and administrative expense of
$345 million 4% and leveraged 90 basis points. The improvement was driven by leverage across compensation, including incentive costs, store and corporate payroll. Professional fees and services and supplies and maintenance costs, also improved as a rate to revenue. -
Operating income of
$101 million 55% . This included an approximately$20 million 7.8% . -
Diluted earnings per share was
$0.39
Inventory
Total ending inventory increased
Shareholder Returns
In the second quarter, the company returned
Additionally, the company paid a quarterly cash dividend of
Capital Expenditures
Capital expenditures totaled
Outlook
For the third quarter, the company expects operating income to be in the range of
For the year, the company is updating its operating income outlook to
Webcast and Supplemental Financial Information
Management will host a conference call and real time webcast today at 11:00 am Eastern Time. To listen to the call, dial 1-877-407-0789 or internationally dial 1-201-689-8562 or go to www.aeo-inc.com to access the webcast and audio replay. Additionally, a financial results presentation is posted on the company’s website.
* * * *
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. Our purpose is to show the world that there’s REAL power in the optimism of youth. The company operates stores in
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This 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 management’s expectations or beliefs concerning future events, including, without limitation, third fiscal quarter and annual fiscal 2024 results. Words such as “outlook,” "estimate," "project," "plan," "believe," "expect," "anticipate," "intend," “may,” “potential,” and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. All forward-looking statements made by the company are inherently uncertain because they are based on assumptions and expectations concerning future events and are subject to change based on many important factors, some of which may be beyond the company’s control. 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 our Annual Report on Form 10-K for the fiscal year ended February 3, 2024 and in any other filings that we may make 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 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 global economic, public health, social, political 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.
The use of the “company,” “AEO,” “we,” "us," and “our” in this release refers to American Eagle Outfitters, Inc.
| AMERICAN EAGLE OUTFITTERS, INC. | ||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||
| (Unaudited; Dollars in thousands) | ||||||||
| August 3, 2024 | July 29, 2023 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ |
191,837 |
|
$ |
175,315 |
|
||
| Merchandise inventory |
|
663,659 |
|
|
636,972 |
|
||
| Accounts receivable, net |
|
231,750 |
|
|
271,333 |
|
||
| Prepaid expenses and other |
|
161,199 |
|
|
117,871 |
|
||
| Total current assets |
|
1,248,445 |
|
|
1,201,491 |
|
||
| Operating lease right-of-use assets |
|
1,153,354 |
|
|
1,038,505 |
|
||
| Property and equipment, at cost, net of accumulated depreciation |
|
722,193 |
|
|
758,736 |
|
||
| Goodwill, net |
|
225,213 |
|
|
264,964 |
|
||
| Non-current deferred income taxes |
|
87,245 |
|
|
21,990 |
|
||
| Intangible assets, net |
|
44,241 |
|
|
90,312 |
|
||
| Other assets |
|
59,625 |
|
|
55,909 |
|
||
| Total assets | $ |
3,540,316 |
|
$ |
3,431,907 |
|
||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ |
259,734 |
|
$ |
238,660 |
|
||
| Current portion of operating lease liabilities |
|
307,570 |
|
|
309,517 |
|
||
| Accrued compensation and payroll taxes |
|
55,441 |
|
|
74,509 |
|
||
| Unredeemed gift cards and gift certificates |
|
51,791 |
|
|
51,156 |
|
||
| Accrued income and other taxes |
|
41,631 |
|
|
17,372 |
|
||
| Other current liabilities and accrued expenses |
|
78,219 |
|
|
71,262 |
|
||
| Total current liabilities |
|
794,386 |
|
|
762,476 |
|
||
| Non-current liabilities: | ||||||||
| Non-current operating lease liabilities |
|
1,015,455 |
|
|
970,862 |
|
||
| Long-term debt, net |
|
— |
|
|
3,225 |
|
||
| Other non-current liabilities |
|
36,109 |
|
|
22,345 |
|
||
| Total non-current liabilities |
|
1,051,564 |
|
|
996,432 |
|
||
| Commitments and contingencies |
|
— |
|
|
— |
|
||
| Stockholders’ equity: | ||||||||
| Preferred stock |
|
— |
|
|
— |
|
||
| Common stock |
|
2,496 |
|
|
2,496 |
|
||
| Contributed capital |
|
353,608 |
|
|
334,447 |
|
||
| Accumulated other comprehensive loss |
|
(39,271 |
) |
|
(11,566 |
) |
||
| Retained earnings |
|
2,320,348 |
|
|
2,158,294 |
|
||
| Treasury stock |
|
(942,815 |
) |
|
(810,672 |
) |
||
| Total stockholders’ equity |
|
1,694,366 |
|
|
1,672,999 |
|
||
| Total liabilities and stockholders’ equity | $ |
3,540,316 |
|
$ |
3,431,907 |
|
||
| Current |
|
1.57 |
|
|
1.58 |
|
||
| AMERICAN EAGLE OUTFITTERS, INC. | |||||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||
| (Unaudited; Dollars and shares in thousands, except per share amounts) | |||||||||||||||||
| GAAP Basis | |||||||||||||||||
| 13 Weeks Ended | |||||||||||||||||
| August 3, 2024 | July 29, 2023 | ||||||||||||||||
| (In thousands) | (Percentage of revenue) | (In thousands) | (Percentage of revenue) | ||||||||||||||
| Total net revenue | $ |
1,291,058 |
|
100.0 |
|
% |
$ |
1,200,879 |
|
100.0 |
|
% |
|||||
| Cost of sales, including certain buying, occupancy and warehouse expenses |
|
792,162 |
|
61.4 |
|
|
747,863 |
|
62.3 |
|
|||||||
| Gross profit |
|
498,896 |
|
38.6 |
|
|
453,016 |
|
37.7 |
|
|||||||
| Selling, general and administrative expenses |
|
345,313 |
|
26.7 |
|
|
331,872 |
|
27.6 |
|
|||||||
| Depreciation and amortization expense |
|
52,474 |
|
4.1 |
|
|
55,854 |
|
4.7 |
|
|||||||
| Operating income |
|
101,109 |
|
7.8 |
|
|
65,290 |
|
5.4 |
|
|||||||
| Interest (income) expense, net |
|
(730 |
) |
(0.1 |
) |
|
951 |
|
0.1 |
|
|||||||
| Other (income), net |
|
(1,715 |
) |
(0.1 |
) |
|
(2,150 |
) |
(0.2 |
) |
|||||||
| Income before income taxes | $ |
103,554 |
|
8.0 |
|
$ |
66,489 |
|
5.5 |
|
|||||||
| Provision for income taxes |
|
26,290 |
|
2.0 |
|
|
17,919 |
|
1.5 |
|
|||||||
| Net income | $ |
77,264 |
|
6.0 |
|
% |
$ |
48,570 |
|
4.0 |
|
% |
|||||
| Net income per basic share | $ |
0.40 |
|
$ |
0.25 |
|
|||||||||||
| Net income per diluted share | $ |
0.39 |
|
$ |
0.25 |
|
|||||||||||
| Weighted average common shares outstanding - basic |
|
193,661 |
|
|
195,329 |
|
|||||||||||
| Weighted average common shares outstanding - diluted |
|
197,757 |
|
|
196,103 |
|
|||||||||||
| AMERICAN EAGLE OUTFITTERS, INC. | |||||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||
| (Unaudited; Dollars and shares in thousands, except per share amounts) | |||||||||||||||||
| GAAP Basis | |||||||||||||||||
| 26 Weeks Ended | |||||||||||||||||
| August 3, 2024 | July 29, 2023 | ||||||||||||||||
| (In thousands) | (Percentage of revenue) | (In thousands) | (Percentage of revenue) | ||||||||||||||
| Total net revenue | $ |
2,434,925 |
|
100.0 |
|
% |
$ |
2,281,805 |
|
100.0 |
|
% |
|||||
| Cost of sales, including certain buying, occupancy and warehouse expenses |
|
1,471,791 |
|
60.5 |
|
|
1,415,610 |
|
62.0 |
|
|||||||
| Gross profit |
|
963,134 |
|
39.5 |
|
|
866,195 |
|
38.0 |
|
|||||||
| Selling, general and administrative expenses |
|
678,806 |
|
27.9 |
|
|
644,217 |
|
28.2 |
|
|||||||
| Impairment, Restructuring and Other Charges |
|
- |
|
0.0 |
|
|
21,275 |
|
1.0 |
|
|||||||
| Depreciation and amortization expense |
|
105,384 |
|
4.3 |
|
|
112,582 |
|
4.9 |
|
|||||||
| Operating income |
|
178,944 |
|
7.3 |
|
|
88,121 |
|
3.9 |
|
|||||||
| Interest (income) expense, net |
|
(4,168 |
) |
(0.2 |
) |
|
1,642 |
|
0.1 |
|
|||||||
| Other (income), net |
|
(3,111 |
) |
(0.1 |
) |
|
(5,461 |
) |
(0.2 |
) |
|||||||
| Income before income taxes | $ |
186,223 |
|
7.6 |
|
$ |
91,940 |
|
4.0 |
|
|||||||
| Provision for income taxes |
|
41,209 |
|
1.6 |
|
|
24,918 |
|
1.1 |
|
|||||||
| Net income | $ |
145,014 |
|
6.0 |
|
% |
$ |
67,022 |
|
2.9 |
|
% |
|||||
| Net income per basic share | $ |
0.74 |
|
$ |
0.34 |
|
|||||||||||
| Net income per diluted share | $ |
0.73 |
|
$ |
0.34 |
|
|||||||||||
| Weighted average common shares outstanding - basic |
|
195,048 |
|
|
195,214 |
|
|||||||||||
| Weighted average common shares outstanding - diluted |
|
199,406 |
|
|
196,822 |
|
|||||||||||
| AMERICAN EAGLE OUTFITTERS, INC. | ||||||||||||||||
| NET REVENUE BY SEGMENT | ||||||||||||||||
| (Unaudited; Dollars in thousands) | ||||||||||||||||
| 13 Weeks Ended | 26 Weeks Ended | |||||||||||||||
| August 3, 2024 | July 29, 2023 | August 3, 2024 | July 29, 2023 | |||||||||||||
| Net Revenue: | ||||||||||||||||
| American Eagle | $ |
827,638 |
|
$ |
767,018 |
|
$ |
1,552,382 |
|
$ |
1,438,110 |
|
||||
| Aerie |
|
415,646 |
|
|
380,413 |
|
|
788,298 |
|
|
739,495 |
|
||||
| Other |
|
57,457 |
|
|
108,318 |
|
|
112,441 |
|
|
217,675 |
|
||||
| Intersegment Elimination |
|
(9,683 |
) |
|
(54,870 |
) |
|
(18,196 |
) |
|
(113,475 |
) |
||||
| Total Net Revenue | $ |
1,291,058 |
|
$ |
1,200,879 |
|
$ |
2,434,925 |
|
$ |
2,281,805 |
|
||||
| AMERICAN EAGLE OUTFITTERS, INC. | |||
| STORE INFORMATION | |||
| (Unaudited) | |||
| 13 Weeks Ended | 26 Weeks Ended | ||
| August 3, 2024 | August 3, 2024 | ||
| Consolidated stores at beginning of period | 1,173 |
1,182 |
|
| Consolidated stores opened during the period | |||
| AE Brand (1) | 3 |
6 |
|
| Aerie (incl. OFFL/NE) (2) | 9 |
10 |
|
| Todd |
2 |
2 |
|
| Unsubscribed | - |
- |
|
| Consolidated stores closed during the period | |||
| AE Brand (1) | (6) |
(14) |
|
| Aerie (incl. OFFL/NE) (2) | (3) |
(7) |
|
| Unsubscribed | - |
(1) |
|
| Total consolidated stores at end of period | 1,178 |
1,178 |
|
| Stores by Brand | |||
| AE Brand (1) | 843 |
||
| Aerie (incl. OFFL/NE) (2) | 313 |
||
| Todd |
17 |
||
| Unsubscribed | 5 |
||
| Total consolidated stores at end of period | 1,178 |
||
| Total gross square footage at end of period (in '000) | 7,240 |
7,240 |
|
| International license locations at end of period (3) | 313 |
313 |
|
| (1) AE Brand includes AE stand alone locations, AE/Aerie side-by side locations, AE/OFFL/NE side-by-side locations, and AE/Aerie/OFFL/NE side-by-side locations. | |||
| (2) Aerie (incl. OFFL/NE) includes Aerie stand alone locations, OFFL/NE stand alone locations, and Aerie/OFFL/NE side-by-side locations. | |||
| (3) International license locations (retail stores and concessions) are not included in the consolidated store data or the total gross square footage calculation. | |||
| Non-GAAP Measures | ||||||
| This press release includes information on non-GAAP financial measures (“non-GAAP” or “adjusted”), including consolidated adjusted operating income, excluding non-GAAP items. This financial measure is not based on any standardized methodology prescribed by |
||||||
| The following table reconciles the GAAP financial measures to the non-GAAP financial measures discussed above. The Fiscal 2023 adjustments relate to certain inventory provisions, asset impairments, restructuring and other charges recognized in relation to Quiet Platforms, as well as the company’s international and corporate operations. Please refer to Note 16. “Impairment, Restructuring and Other Charges,” to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 15, 2024 for further information on the nature of these amounts. | ||||||
| AMERICAN EAGLE OUTFITTERS, INC. | ||||||
| 53 Weeks Ended February 3, 2024 | ||||||
| (Dollars in thousands) | ||||||
| Operating | ||||||
| Income | ||||||
| GAAP Basis | $ |
222,717 |
|
|||
| % of Revenue |
|
4.2 |
% |
|||
| Add: Impairment, Restructuring and Other Charges | $ |
152,645 |
|
|||
| Non-GAAP Basis | $ |
375,362 |
|
|||
| % of Revenue |
|
7.1 |
% |
|||
View source version on businesswire.com: https://www.businesswire.com/news/home/20240828093633/en/
Line Media
412-432-3300
LineMedia@ae.com
Source: American Eagle Outfitters, Inc.
FAQ
What was American Eagle Outfitters' (AEO) revenue in Q2 2024?
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