AEO Inc. Reports Strong Fourth Quarter and Fiscal Year 2024 Results; Provides Fiscal Year 2025 Outlook
American Eagle Outfitters (AEO) reported strong results for Q4 and fiscal year 2024, with total comparable sales up 3% in Q4 and 4% for the full year. Aerie achieved record revenue with Q4 comp growth of 6% and fiscal year comp growth of 5%, while American Eagle saw comp growth of 1% in Q4 and 3% for the year.
Q4 total net revenue was $1.6 billion, with operating income of $142 million. For fiscal year 2024, the company reported total net revenue of $5.3 billion and GAAP operating income of $427 million. Adjusted operating income increased 19% to $445 million.
The company returned over $190 million to shareholders through share repurchases in 2024 and announced a new authorization for an additional 50 million shares. However, AEO noted a slower start to Q1 2025 due to less robust demand and colder weather, leading to proactive steps to strengthen top-line, manage inventory, and reduce expenses.
American Eagle Outfitters (AEO) ha riportato risultati solidi per il quarto trimestre e l'anno fiscale 2024, con vendite comparabili totali in aumento del 3% nel quarto trimestre e del 4% per l'intero anno. Aerie ha raggiunto ricavi record con una crescita delle vendite comparabili del 6% nel quarto trimestre e del 5% per l'anno fiscale, mentre American Eagle ha visto una crescita delle vendite comparabili dell'1% nel quarto trimestre e del 3% per l'anno.
Il fatturato netto totale del quarto trimestre è stato di 1,6 miliardi di dollari, con un reddito operativo di 142 milioni di dollari. Per l'anno fiscale 2024, l'azienda ha riportato un fatturato netto totale di 5,3 miliardi di dollari e un reddito operativo GAAP di 427 milioni di dollari. Il reddito operativo rettificato è aumentato del 19% a 445 milioni di dollari.
L'azienda ha restituito oltre 190 milioni di dollari agli azionisti tramite riacquisti di azioni nel 2024 e ha annunciato una nuova autorizzazione per ulteriori 50 milioni di azioni. Tuttavia, AEO ha notato un avvio più lento per il primo trimestre del 2025 a causa di una domanda meno robusta e di un clima più freddo, portando a misure proattive per rafforzare il fatturato, gestire l'inventario e ridurre le spese.
American Eagle Outfitters (AEO) reportó resultados sólidos para el cuarto trimestre y el año fiscal 2024, con un aumento del 3% en las ventas comparables del cuarto trimestre y del 4% para el año completo. Aerie logró ingresos récord con un crecimiento de 6% en las ventas comparables en el cuarto trimestre y un crecimiento del 5% para el año fiscal, mientras que American Eagle vio un crecimiento de 1% en el cuarto trimestre y del 3% para el año.
Los ingresos netos totales del cuarto trimestre fueron de 1.6 mil millones de dólares, con un ingreso operativo de 142 millones de dólares. Para el año fiscal 2024, la empresa reportó ingresos netos totales de 5.3 mil millones de dólares y un ingreso operativo GAAP de 427 millones de dólares. El ingreso operativo ajustado aumentó un 19% a 445 millones de dólares.
La empresa devolvió más de 190 millones de dólares a los accionistas a través de recompra de acciones en 2024 y anunció una nueva autorización para 50 millones de acciones adicionales. Sin embargo, AEO notó un inicio más lento para el primer trimestre de 2025 debido a una demanda menos robusta y clima más frío, lo que llevó a tomar medidas proactivas para fortalecer los ingresos, gestionar el inventario y reducir gastos.
아메리칸 이글 아울피터스 (AEO)는 2024 회계연도 4분기 및 연간 실적이 강력하다고 보고했으며, 4분기 비교 판매가 3% 증가하고 연간 4% 증가했습니다. Aerie는 4분기 비교 성장률이 6%로 기록적인 수익을 달성했으며, 회계연도 비교 성장률은 5%였습니다. 반면 American Eagle은 4분기 비교 성장률이 1%이고 연간 3% 증가했습니다.
4분기 총 순수익은 16억 달러였으며, 운영 소득은 1억 4200만 달러였습니다. 2024 회계연도에 대해 회사는 총 순수익이 53억 달러이고 GAAP 운영 소득이 4억 2700만 달러라고 보고했습니다. 조정된 운영 소득은 19% 증가하여 4억 4500만 달러에 달했습니다.
회사는 2024년에 주식 매입을 통해 주주에게 1억 9000만 달러 이상을 반환했으며, 추가로 5000만 주에 대한 새로운 승인을 발표했습니다. 그러나 AEO는 2025년 1분기가 덜 강력한 수요와 추운 날씨로 인해 더 느리게 시작되었음을 언급하며, 매출을 강화하고 재고를 관리하며 비용을 줄이기 위한 적극적인 조치를 취했습니다.
American Eagle Outfitters (AEO) a annoncé des résultats solides pour le quatrième trimestre et l'exercice fiscal 2024, avec des ventes comparables totales en hausse de 3 % au quatrième trimestre et de 4 % pour l'année entière. Aerie a atteint des revenus records avec une croissance des ventes comparables de 6 % au quatrième trimestre et de 5 % pour l'exercice fiscal, tandis que American Eagle a connu une croissance des ventes comparables de 1 % au quatrième trimestre et de 3 % pour l'année.
Le chiffre d'affaires net total du quatrième trimestre s'est élevé à 1,6 milliard de dollars, avec un bénéfice d'exploitation de 142 millions de dollars. Pour l'exercice fiscal 2024, l'entreprise a annoncé un chiffre d'affaires net total de 5,3 milliards de dollars et un bénéfice d'exploitation GAAP de 427 millions de dollars. Le bénéfice d'exploitation ajusté a augmenté de 19 % pour atteindre 445 millions de dollars.
L'entreprise a restitué plus de 190 millions de dollars aux actionnaires par le biais de rachats d'actions en 2024 et a annoncé une nouvelle autorisation pour 50 millions d'actions supplémentaires. Cependant, AEO a noté un début plus lent pour le premier trimestre 2025 en raison d'une demande moins dynamique et d'un temps plus froid, ce qui a conduit à des mesures proactives pour renforcer le chiffre d'affaires, gérer les stocks et réduire les dépenses.
American Eagle Outfitters (AEO) hat starke Ergebnisse für das vierte Quartal und das Geschäftsjahr 2024 gemeldet, mit einem Anstieg der vergleichbaren Verkäufe um 3% im vierten Quartal und um 4% für das gesamte Jahr. Aerie erzielte Rekordumsätze mit einem Wachstum der vergleichbaren Verkäufe von 6% im vierten Quartal und 5% im Geschäftsjahr, während American Eagle ein Wachstum von 1% im vierten Quartal und 3% für das Jahr verzeichnete.
Der gesamte Nettoumsatz im vierten Quartal betrug 1,6 Milliarden Dollar, mit einem Betriebsergebnis von 142 Millionen Dollar. Für das Geschäftsjahr 2024 meldete das Unternehmen einen gesamten Nettoumsatz von 5,3 Milliarden Dollar und ein GAAP-Betriebsergebnis von 427 Millionen Dollar. Das bereinigte Betriebsergebnis stieg um 19% auf 445 Millionen Dollar.
Das Unternehmen gab 2024 über 190 Millionen Dollar an die Aktionäre zurück, indem es Aktienrückkäufe durchführte, und kündigte eine neue Genehmigung für weitere 50 Millionen Aktien an. AEO stellte jedoch einen langsameren Start ins erste Quartal 2025 aufgrund einer weniger robusten Nachfrage und kälterem Wetter fest, was zu proaktiven Maßnahmen zur Stärkung des Umsatzes, zur Verwaltung des Inventars und zur Reduzierung der Kosten führte.
- Record revenue and significant profit expansion in FY2024
- Adjusted operating income increased 19% to $445 million
- Aerie achieved record revenue with 6% Q4 and 5% FY comp growth
- Total comparable sales increased 4% for the fiscal year
- Board authorized additional 50 million shares for repurchase
- Inventory decreased 1% and is reported healthy
- Q1 2025 off to slower start due to weak demand
- Q4 total net revenue declined 4% due to calendar shift
- Higher freight and product costs impacting gross margin
- Higher markdowns affecting gross margin
- Challenging consumer and macroeconomic environment ahead
Insights
AEO delivered solid financial results for fiscal 2024, with 4% comparable sales growth and record revenue despite operating in a challenging retail environment. The company achieved significant profit expansion with adjusted operating income up 19% to $445 million and a healthy operating margin of 8.3%.
The performance was led by Aerie, which posted record revenue with comparable sales growth of 5% for the full year and 6% in Q4. American Eagle also showed improvement with 3% comparable sales growth for the year.
AEO's balance sheet discipline is evident in its inventory management, with total ending inventory down 1%. This positions the company well to navigate the uncertain retail landscape ahead without excessive markdown pressure.
The company demonstrated strong shareholder commitment by returning over $190 million through share repurchases and $96 million in dividends. The new authorization for an additional 50 million shares for repurchase signals management's confidence in long-term prospects despite near-term challenges.
However, investors should note management's cautious commentary regarding Q1 2025, which is "off to a slower start than expected" due to weaker demand and weather impacts. This suggests potential headwinds to near-term performance despite the strong 2024 results.
The planned $300 million capital expenditure for 2025 (including relocation costs) indicates continued investment in growth initiatives despite the uncertain environment, reflecting a balance between prudence and strategic positioning for long-term growth.
AEO's 2024 performance demonstrates effective execution of its "Powering Profitable Growth Plan" in a challenging retail environment. The 4% comparable sales growth outpaced many specialty retailers and shows the company's ability to attract consumers despite inflation pressures.
Particularly impressive is Aerie's continued momentum with 5% annual comp growth following 8% growth in the previous year. This highlights the brand's strong resonance with its target demographic and validates AEO's multi-brand strategy. Aerie continues to be the company's growth engine, while American Eagle has stabilized with 3% comp growth.
The gross margin expansion for the full year indicates effective inventory management and pricing strategies, though Q4 saw some pressure from higher freight and product costs. The company's ability to effectively manage SG&A costs (leveraging by 30 basis points) demonstrates operational discipline.
However, the cautionary outlook for Q1 2025 is concerning and aligns with broader retail industry challenges. Management's acknowledgment of "less robust demand" suggests consumer spending may be weakening beyond seasonal weather impacts. Their proactive approach to "strengthen top-line, manage inventory and reduce expenses" indicates they're preparing for potential continued softness.
The $300 million CapEx plan shows confidence in long-term strategy despite near-term headwinds. The Manhattan office relocation with "more favorable lease terms" suggests smart cost management even while investing for growth.
AEO's inventory position (down 1%) entering 2025 is advantageous compared to peers who might be carrying excess inventory, providing flexibility to respond to changing consumer preferences without excessive markdowns.
Fourth quarter comparable sales growth of
-
Record Aerie revenue with comp growth of
6% ; American Eagle comp growth of1%
Fiscal year comparable sales growth of
-
Record Aerie revenue with comp growth of
5% . American Eagle comp growth of3% -
GAAP operating income of
. Adjusted operating income up$427 million 19% to$445 million
Over
“2024 demonstrated significant progress on our Powering Profitable Growth Plan. The team delivered strong operating profit growth with positive momentum across our brands and channels as well as disciplined expense management and operating efficiencies,” commented Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer.
“Entering 2025, the first quarter is off to a slower start than expected, reflecting less robust demand and colder weather. While we anticipate improvement as the Spring season gets underway, we are also taking proactive steps to strengthen the top-line, manage inventory and reduce expenses. As we navigate through an uncertain consumer and operating landscape, we will also remain focused on our long-term strategic priorities,” he added.
Fourth Quarter 2024 Results:
- Fourth quarter 2024 results are presented for the 13 weeks ended February 1, 2025 compared to the 14 weeks ended February 3, 2024. Comparable sales metrics are presented for the 13 weeks ended February 1, 2025 compared to the 13 weeks ended February 3, 2024.
-
Total comparable sales increased
3% , following8% reported comp growth last year. -
Total net revenue of
declined$1.6 billion 4% . This included approximately of adverse impact from one less selling week and the retail calendar shift.$85 million -
Aerie comparable sales increased
6% on a13% increase last year. American Eagle comparable sales grew1% following6% growth last year. -
Gross profit of
. Gross margin of$599 million 37.3% reflected higher freight and product costs, offset by lower markdowns. BOW costs were roughly neutral. -
Selling, general and administrative expense of
decreased$402 million 6% and leveraged 40 basis points. The improved rate was due to lower compensation, including incentive costs, partially offset by increased advertising. -
Operating income rose slightly to
, reflecting an operating margin of$142 million 8.9% . This included an approximately adverse impact from one less selling week and the retail calendar shift.$20 million -
Diluted earnings per share was
. Average diluted shares outstanding were 193 million.$0.54
Fiscal Year 2024 Results:
- Fiscal Year 2024 results are presented for the 52 weeks ended February 1, 2025 compared to the 53 weeks ending February 3, 2024. Comparable sales metrics are presented for the 52 weeks ended February 1, 2025 compared to the 52 weeks ended February 3, 2024.
-
Total comparable sales increased
4% , following3% reported comp growth last year. -
Total net revenue of
increased$5.3 billion 1% . This included an approximately adverse impact from one less selling week.$60 million -
Aerie comparable sales increased
5% on8% growth last year. American Eagle comparable sales increased3% following1% growth last year. -
Gross profit of
increased$2.1 billion 3% . Gross margin of39.2% expanded driven by lower rent, utilities and delivery expenses, with a partial offset from higher markdowns. -
Selling, general and administrative expense of
was roughly in-line to last year and leveraged 30 basis points. The improved rate was due to lower compensation, including incentive costs, partially offset by increased advertising.$1.4 billion -
GAAP Operating income of
. Adjusted operating income of$427 million reflected an operating margin of$445 million 8.3% . This included an approximately adverse impact from one less selling week.$5 million -
GAAP diluted earnings per share was
. Adjusted diluted earnings per share was$1.68 . Average diluted shares outstanding were 196 million.$1.74
Inventory
Total ending inventory decreased
Shareholder Returns
In the fourth quarter the company repurchased 3.5 million shares for
New Share Repurchase Authorization
On March 11, 2025, the company's Board of Directors authorized an additional 50 million shares for repurchase under its existing authorization, increasing the total shares available for repurchase to 68.5 million through February 3, 2029.
Share repurchases may be made from time to time in open market or private transactions in such manner as may be deemed advisable from time to time (including, without limitation, pursuant to one or more 10b5-1 trading plans, accelerated share repurchase programs, and any other method that the company may deem advisable) and may be discontinued at any time.
Capital Expenditures
Capital expenditures totaled
Outlook
The company’s outlook reflects near-term headwinds in the consumer and macroeconomic operating environment, balanced with proactive steps the company is taking to strengthen the top-line and reduce expenses.
|
First Quarter 2025 Outlook |
Fiscal Year 2025 Outlook |
Revenue |
Mid-single digit decline |
Low-single digit decline |
Gross Margin |
Down YoY |
Down YoY |
SG&A |
Flat dollars |
Low-single digit dollar decline |
D&A |
- |
Approximately |
Operating Income |
|
|
Tax Rate |
- |
Approximately |
Weighted Average Share Count |
- |
Low 190 million* |
Capital Expenditures |
- |
Approximately |
*Does not include repurchase activity beyond offsetting internal grants
Webcast and Supplemental Financial Information
Management will host a conference call and real time webcast today at 4:30pm 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 with a portfolio of beloved apparel brands including American Eagle, Aerie, OFFL/NE by Aerie, Todd Snyder and Unsubscribed. Rooted in optimism, inclusivity and authenticity, AEO’s brands empower every customer to celebrate their unique personal style by offering casual, comfortable, timeless outfitting and high-quality products that are made to last.
AEO Inc. operates stores in
Non-GAAP Measures
This press release includes operating income and diluted earnings per share presented on an adjusted or non-GAAP basis, which are non-GAAP financial measures. These financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. Non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. We believe that this non-GAAP information is useful as an additional means for investors to evaluate our operating performance when reviewed in conjunction with our GAAP Consolidated Financial Statements and provides a higher degree of transparency. These amounts are not determined in accordance with GAAP and, therefore, should not be used exclusively in evaluating our business and operations. The tables included in this release reconcile the GAAP financial measures to the non-GAAP financial measures discussed above for the 52 weeks ended February 1, 2025 and the 13 and 53 weeks ended February 3, 2024.
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, the outlook for first fiscal quarter and annual fiscal 2025. 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; the possibility that product costs are adversely affected by foreign trade issues (including import tariffs and other trade restrictions imposed by the
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) |
||||||||
Fiscal Years Ending |
||||||||
February 1, 2025 |
February 3, 2024 |
|||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ |
308,962 |
|
$ |
354,094 |
|
||
Short-term investments |
|
50,000 |
|
|
100,000 |
|
||
Merchandise inventory |
|
636,655 |
|
|
640,662 |
|
||
Accounts receivable, net |
|
262,365 |
|
|
247,934 |
|
||
Prepaid expenses |
|
76,088 |
|
|
65,082 |
|
||
Other current assets |
|
20,161 |
|
|
25,578 |
|
||
Total current assets |
|
1,354,231 |
|
|
1,433,350 |
|
||
Operating lease right-of-use assets |
|
1,295,400 |
|
|
1,005,293 |
|
||
Property and equipment, at cost, net of accumulated depreciation |
|
751,264 |
|
|
713,336 |
|
||
Goodwill, net |
|
225,079 |
|
|
225,303 |
|
||
Non-current deferred income taxes |
|
68,158 |
|
|
82,064 |
|
||
Intangible assets, net |
|
42,449 |
|
|
46,109 |
|
||
Other assets |
|
94,194 |
|
|
52,454 |
|
||
Total assets | $ |
3,830,775 |
|
$ |
3,557,909 |
|
||
Liabilities and Stockholders’ Equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ |
280,712 |
|
$ |
268,308 |
|
||
Current portion of operating lease liabilities |
|
313,034 |
|
|
284,508 |
|
||
Accrued compensation and payroll taxes |
|
113,388 |
|
|
152,353 |
|
||
Unredeemed gift cards and gift certificates |
|
70,094 |
|
|
66,285 |
|
||
Accrued income and other taxes |
|
30,677 |
|
|
46,114 |
|
||
Other current liabilities and accrued expenses |
|
74,751 |
|
|
73,604 |
|
||
Total current liabilities |
|
882,656 |
|
|
891,172 |
|
||
Non-current liabilities: | ||||||||
Non-current operating lease liabilities |
|
1,133,296 |
|
|
901,122 |
|
||
Other non-current liabilities |
|
47,963 |
|
|
28,856 |
|
||
Total non-current liabilities |
|
1,181,259 |
|
|
929,978 |
|
||
Commitments and contingencies |
|
— |
|
|
— |
|
||
Stockholders’ equity: | ||||||||
Preferred stock |
|
— |
|
|
— |
|
||
Common stock |
|
2,496 |
|
|
2,496 |
|
||
Contributed capital |
|
365,845 |
|
|
360,378 |
|
||
Accumulated other comprehensive loss |
|
(56,390 |
) |
|
(16,410 |
) |
||
Retained earnings |
|
2,456,063 |
|
|
2,214,159 |
|
||
Treasury stock |
|
(1,001,154 |
) |
|
(823,864 |
) |
||
Total stockholders’ equity |
|
1,766,860 |
|
|
1,736,759 |
|
||
Total liabilities and stockholders’ equity | $ |
3,830,775 |
|
$ |
3,557,909 |
|
||
Current |
|
1.53 |
|
|
1.61 |
|
AMERICAN EAGLE OUTFITTERS, INC. |
||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||||
(Unaudited; Dollars and shares in thousands, except per share amounts) |
||||||||||||||
GAAP Basis |
||||||||||||||
Fourth Quarter Ended |
||||||||||||||
February 1, 2025 |
|
February 3, 2024 |
||||||||||||
(In thousands) |
|
(Percentage of revenue) |
|
(In thousands) |
|
(Percentage of revenue) |
||||||||
Total net revenue | $ |
1,604,633 |
|
100.0 |
% |
$ |
1,678,910 |
|
100.0 |
% |
||||
Cost of sales, including certain buying, occupancy and warehouse expenses |
|
1,005,458 |
|
62.7 |
|
|
1,064,324 |
|
63.4 |
|
||||
Gross profit |
|
599,175 |
|
37.3 |
|
|
614,586 |
|
36.6 |
|
||||
Selling, general and administrative expenses |
|
401,628 |
|
25.0 |
|
|
427,090 |
|
25.4 |
|
||||
Impairment, restructuring and other charges |
|
- |
|
0.0 |
|
|
120,420 |
|
7.1 |
|
||||
Depreciation and amortization expense |
|
55,277 |
|
3.4 |
|
|
57,840 |
|
3.5 |
|
||||
Operating income |
|
142,470 |
|
8.9 |
|
|
9,236 |
|
0.6 |
|
||||
Interest (income), net |
|
(2,355 |
) |
(0.1 |
) |
|
(4,961 |
) |
(0.3 |
) |
||||
Other (income), net |
|
(3,154 |
) |
(0.2 |
) |
|
(1,505 |
) |
(0.1 |
) |
||||
Income before income taxes | $ |
147,779 |
|
9.2 |
|
$ |
15,702 |
|
1.0 |
|
||||
Provision for income taxes |
|
43,433 |
|
2.7 |
|
|
9,386 |
|
0.6 |
|
||||
Net income | $ |
104,346 |
|
6.5 |
% |
$ |
6,316 |
|
0.4 |
% |
||||
Net income per basic share | $ |
0.55 |
|
$ |
0.03 |
|
||||||||
Net income per diluted share | $ |
0.54 |
|
$ |
0.03 |
|
||||||||
Weighted average common shares outstanding - basic |
|
190,497 |
|
|
197,524 |
|
||||||||
Weighted average common shares outstanding - diluted |
|
193,496 |
|
|
199,589 |
|
AMERICAN EAGLE OUTFITTERS, INC. |
||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||||
(Unaudited; Dollars and shares in thousands, except per share amounts) |
||||||||||||||
|
||||||||||||||
|
|
GAAP Basis |
||||||||||||
|
|
Fiscal Year Ended |
||||||||||||
|
|
February 1, 2025 |
|
February 3, 2024 |
||||||||||
(In thousands) |
(Percentage of revenue) |
(In thousands) |
(Percentage of revenue) |
|||||||||||
Total net revenue | $ |
5,328,652 |
|
100.0 |
% |
$ |
5,261,770 |
|
100.0 |
% |
||||
Cost of sales, including certain buying, occupancy and warehouse expenses |
|
3,239,719 |
|
60.8 |
|
|
3,237,192 |
|
61.5 |
|
||||
Gross profit |
|
2,088,933 |
|
39.2 |
|
|
2,024,578 |
|
38.5 |
|
||||
Selling, general and administrative expenses |
|
1,431,814 |
|
26.9 |
|
|
1,433,300 |
|
27.2 |
|
||||
Impairment, restructuring, and other charges |
|
17,561 |
|
0.3 |
|
|
141,695 |
|
2.7 |
|
||||
Depreciation and amortization expense |
|
212,255 |
|
4.0 |
|
|
226,866 |
|
4.4 |
|
||||
Operating income |
|
427,303 |
|
8.0 |
|
|
222,717 |
|
4.2 |
|
||||
Interest (income), net |
|
(7,769 |
) |
(0.1 |
) |
|
(6,190 |
) |
(0.1 |
) |
||||
Other (income), net |
|
(7,162 |
) |
(0.1 |
) |
|
(10,951 |
) |
(0.2 |
) |
||||
Income before income taxes | $ |
442,234 |
|
8.2 |
|
$ |
239,858 |
|
4.5 |
|
||||
Provision for income taxes |
|
112,854 |
|
2.0 |
|
|
69,820 |
|
1.3 |
|
||||
Net income | $ |
329,380 |
|
6.2 |
% |
$ |
170,038 |
|
3.2 |
% |
||||
Net income per basic share | $ |
1.71 |
|
$ |
0.87 |
|
||||||||
Net income per diluted share | $ |
1.68 |
|
$ |
0.86 |
|
||||||||
Weighted average common shares outstanding - basic |
|
193,056 |
|
|
195,646 |
|
||||||||
Weighted average common shares outstanding - diluted |
|
196,412 |
|
|
196,863 |
|
AMERICAN EAGLE OUTFITTERS, INC. | |||||||||||||||
NET REVENUE BY SEGMENT | |||||||||||||||
(Unaudited; Dollars in thousands) | |||||||||||||||
Fourth Quarter Ended | Fiscal Year Ended | ||||||||||||||
February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | ||||||||||||
Net Revenue: | |||||||||||||||
American Eagle | $ |
1,000,935 |
|
$ |
1,066,092 |
|
$ |
3,385,231 |
|
$ |
3,361,579 |
|
|||
Aerie |
|
539,673 |
|
|
537,462 |
|
|
1,738,414 |
|
|
1,670,000 |
|
|||
Other |
|
74,906 |
|
|
159,576 |
|
|
243,907 |
|
|
489,056 |
|
|||
Intersegment Elimination |
|
(10,881 |
) |
|
(84,220 |
) |
|
(38,900 |
) |
|
(258,865 |
) |
|||
Total Net Revenue | $ |
1,604,633 |
|
$ |
1,678,910 |
|
$ |
5,328,652 |
|
$ |
5,261,770 |
|
AMERICAN EAGLE OUTFITTERS, INC. |
|||||
STORE INFORMATION |
|||||
(Unaudited) |
|||||
Fourth Quarter Ended |
|
Fiscal Year Ended |
|||
February 1, 2025 |
|
February 1, 2025 |
|||
Consolidated stores at beginning of period | 1,186 |
|
1,182 |
|
|
Consolidated stores opened during the period | |||||
AE Brand (1) | 8 |
|
22 |
|
|
Aerie (incl. OFFL/NE) (2) | 5 |
|
22 |
|
|
Todd |
— |
|
4 |
|
|
Unsubscribed | 1 |
|
1 |
|
|
Consolidated stores closed during the period | |||||
AE Brand (1) (3) | (25 |
) |
(45 |
) |
|
Aerie (incl. OFFL/NE) (2) | (3 |
) |
(13 |
) |
|
Todd |
— |
|
(1 |
) |
|
Total consolidated stores at end of period | 1,172 |
|
1,172 |
|
|
Stores by Brand | |||||
AE Brand (1) | 829 |
|
|||
Aerie (incl. OFFL/NE) (2) | 318 |
|
|||
Todd |
19 |
|
|||
Unsubscribed | 6 |
|
|||
Total consolidated stores at end of period | 1,172 |
|
|||
Total gross square footage at end of period (in '000) | 7,215 |
|
7,215 |
|
|
International license locations at end of period (3) (4) | 371 |
|
371 |
|
|
(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) Includes 13 AE locations in |
|||||
(4) International license locations (retail stores and concessions) are not included in the consolidated store data or the total gross square footage calculation. |
AMERICAN EAGLE OUTFITTERS, INC. |
|||||||||||||||||
GAAP to Non-GAAP Reconciliation |
|||||||||||||||||
(Dollars in thousands, except per share amounts) |
|||||||||||||||||
Fiscal Year Ended |
|||||||||||||||||
February 1, 2025 |
|||||||||||||||||
Operating Income |
|
Income Tax Expense |
|
Effective Tax Rate |
|
Net Income |
|
Earnings per Diluted Share |
|||||||||
GAAP Basis | $ |
427,303 |
|
$ |
112,854 |
25.5 |
% |
$ |
329,380 |
|
$ |
1.68 |
|||||
% of Revenue |
|
8.0 |
% |
|
6.2 |
% |
|||||||||||
Add: Impairment, restructuring and other charges | $ |
17,561 |
|
$ |
12,983 |
|
$ |
0.06 |
|||||||||
Tax effect of the above | $ |
4,577 |
|||||||||||||||
Non-GAAP Basis | $ |
444,864 |
|
$ |
117,431 |
25.5 |
% |
$ |
342,363 |
|
$ |
1.74 |
|||||
% of Revenue |
|
8.3 |
% |
|
6.4 |
% |
|||||||||||
The Fiscal 2024 adjustments relate to restructuring costs related to employee severance, as well as impairment and restructuring costs related to the sale of the Company's |
AMERICAN EAGLE OUTFITTERS, INC. |
||||||||||||||||||||
GAAP to Non-GAAP Reconciliation |
||||||||||||||||||||
(Dollars in thousands, except per share amounts) |
||||||||||||||||||||
Fourth Quarter Ended |
||||||||||||||||||||
February 3, 2024 |
||||||||||||||||||||
Gross |
|
Operating |
|
Income Tax |
|
Effective |
|
Net |
|
Earnings per |
||||||||||
Profit |
|
Income |
|
Expense |
|
Tax Rate |
|
Income |
|
Diluted Share |
||||||||||
GAAP Basis | $ |
614,586 |
|
$ |
9,236 |
|
$ |
9,386 |
59.8 |
% |
$ |
6,316 |
|
$ |
0.03 |
|||||
% of Revenue |
|
36.6 |
% |
|
0.6 |
% |
|
0.4 |
% |
|||||||||||
Add: Impairment, Restructuring and Other Charges | $ |
10,950 |
|
$ |
131,370 |
|
$ |
115,081 |
|
$ |
0.58 |
|||||||||
Tax effect of the above | $ |
16,289 |
(34.7 |
)% |
||||||||||||||||
Non-GAAP Basis | $ |
625,536 |
|
$ |
140,606 |
|
$ |
25,675 |
17.5 |
% |
$ |
121,397 |
|
$ |
0.61 |
|||||
% of Revenue |
|
37.3 |
% |
|
8.4 |
% |
|
7.2 |
% |
|||||||||||
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. |
||||||||||||||||||||
GAAP to Non-GAAP Reconciliation |
||||||||||||||||||||
(Dollars in thousands, except per share amounts) |
||||||||||||||||||||
Fiscal Year Ended |
||||||||||||||||||||
February 3, 2024 |
||||||||||||||||||||
Gross |
|
Operating |
|
Income Tax |
|
Effective |
|
Net |
|
Earnings per |
||||||||||
Profit |
|
Income |
|
Expense |
|
Tax Rate |
|
Income |
|
Diluted Share |
||||||||||
GAAP Basis | $ |
2,024,578 |
|
$ |
222,717 |
|
$ |
69,820 |
29.1 |
% |
$ |
170,038 |
|
$ |
0.86 |
|||||
% of Revenue |
|
38.5 |
% |
|
4.2 |
% |
|
3.2 |
% |
|||||||||||
Add: Impairment, Restructuring and Other Charges | $ |
10,950 |
|
$ |
152,645 |
|
$ |
129,875 |
|
$ |
0.66 |
|||||||||
Tax effect of the above | $ |
22,770 |
(5.3 |
)% |
||||||||||||||||
Non-GAAP Basis | $ |
2,035,528 |
|
$ |
375,362 |
|
$ |
92,590 |
23.6 |
% |
$ |
299,913 |
|
$ |
1.52 |
|||||
% of Revenue |
|
38.7 |
% |
|
7.1 |
% |
|
5.7 |
% |
|||||||||||
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. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250312187284/en/
Line Media
412-432-3300
LineMedia@ae.com
Source: American Eagle Outfitters, Inc.