AEO Inc. Reports Third Quarter Growth Across Brands Reflecting Strong Execution on Powering Profitable Growth Plan
American Eagle Outfitters (AEO) reported strong Q3 fiscal 2024 results with growth across brands. Aerie achieved record Q3 revenue with 5% comp sales growth, while American Eagle saw 3% comp growth. Total revenue was $1.3 billion, down 1% due to retail calendar shift impact of $45 million.
Operating income reached $106 million with an 8.2% margin. Adjusted operating income was $124 million with a 9.6% margin. Gross profit was $527 million with a 40.9% margin. The company maintained strong shareholder returns through dividends and share repurchases.
For Q4, AEO expects comp sales up ~1% with total revenue down 4%. Full-year outlook projects ~3% comp sales growth and adjusted operating income of $428-433 million, representing mid-teens growth.
American Eagle Outfitters (AEO) ha riportato risultati solidi per il terzo trimestre del 2024 fiscale, con una crescita tra i vari marchi. Aerie ha raggiunto un fatturato record per il terzo trimestre con una crescita delle vendite comparabili del 5%, mentre American Eagle ha registrato una crescita del 3% delle vendite comparabili. Il fatturato totale è stato di 1.3 miliardi di dollari, in calo dell'1% a causa dell'impatto dello spostamento del calendario commerciale di 45 milioni di dollari.
L'utile operativo ha raggiunto 106 milioni di dollari con un margine dell'8,2%. L'utile operativo corretto è stato di 124 milioni di dollari con un margine del 9,6%. L'utile lordo è stato di 527 milioni di dollari con un margine del 40,9%. L'azienda ha mantenuto rendimenti solidi per gli azionisti attraverso dividendi e riacquisti di azioni.
Per il quarto trimestre, AEO prevede una crescita delle vendite comparabili di circa l'1% con un fatturato totale in calo del 4%. Le previsioni per l'anno intero indicano una crescita delle vendite comparabili di circa il 3% e un utile operativo corretto di 428-433 milioni di dollari, rappresentando una crescita a metà dei teen.
American Eagle Outfitters (AEO) reportó resultados sólidos para el tercer trimestre del año fiscal 2024, con crecimiento en todas las marcas. Aerie logró ingresos récord en el tercer trimestre con un crecimiento del 5% en ventas comparables, mientras que American Eagle vio un crecimiento del 3% en las ventas comparables. Los ingresos totales fueron de $1.3 mil millones, con una disminución del 1% debido al impacto del cambio en el calendario minorista por $45 millones.
El ingreso operativo alcanzó $106 millones con un margen del 8.2%. El ingreso operativo ajustado fue de $124 millones con un margen del 9.6%. La ganancia bruta fue de $527 millones con un margen del 40.9%. La empresa mantuvo rendimientos sólidos para los accionistas a través de dividendos y recompra de acciones.
Para el cuarto trimestre, AEO espera que las ventas comparables aumenten aproximadamente un 1% con ingresos totales en disminución del 4%. Las proyecciones para el año completo indican un crecimiento de ventas comparables de aproximadamente un 3% y un ingreso operativo ajustado de $428-433 millones, representando un crecimiento de media década.
아메리칸 이글 아울핏터스 (AEO)는 2024 회계연도 3분기 실적이 강력하며 브랜드 전반에 걸쳐 성장했다고 보고했습니다. Aerie는 3분기 매출이 기록적으로 증가하며 5%의 비교 판매 성장률을 달성했으며, American Eagle은 3%의 비교 성장률을 보았습니다. 총 매출은 13억 달러로, 소매 일정 변경으로 인한 4500만 달러의 영향을 받아 1% 감소했습니다.
운영 수익은 1억 600만 달러로 8.2%의 마진을 기록했습니다. 조정된 운영 수익은 1억 2400만 달러로 9.6%의 마진을 보였습니다. 총 이익은 5억 2700만 달러로 40.9%의 마진을 기록했습니다. 회사는 배당금과 자사주 매입을 통해 주주에게 강력한 수익을 유지했습니다.
4분기 동안 AEO는 비교 판매가 약 1% 증가하고 총 매출이 4% 감소할 것으로 예상하고 있습니다. 연간 전망치는 약 3%의 비교 판매 성장과 4억 2800만~4억 3300만 달러의 조정 운영 수익을 예상하며, 중반 성장을 나타냅니다.
American Eagle Outfitters (AEO) a rapporté de solides résultats pour le troisième trimestre de l'exercice fiscal 2024, avec une croissance dans l'ensemble des marques. Aerie a atteint un chiffre d'affaires record au troisième trimestre avec une croissance des ventes comparables de 5 %, tandis que American Eagle a enregistré une croissance de 3 % des ventes comparables. Le chiffre d'affaires total s'est élève à 1,3 milliard de dollars, en baisse de 1 % en raison de l'impact du changement de calendrier de vente au détail de 45 millions de dollars.
Le bénéfice d'exploitation a atteint 106 millions de dollars avec une marge de 8,2 %. Le bénéfice d'exploitation ajusté s'élevait à 124 millions de dollars avec une marge de 9,6 %. Le bénéfice brut était de 527 millions de dollars avec une marge de 40,9 %. L'entreprise a maintenu des rendements solides pour les actionnaires grâce à des dividendes et des rachats d'actions.
Pour le quatrième trimestre, AEO s'attend à ce que les ventes comparables augmentent d'environ 1 %, avec un chiffre d'affaires total en baisse de 4 %. Les prévisions pour l'année complète envisagent une croissance des ventes comparables d'environ 3 % et un bénéfice d'exploitation ajusté de 428 à 433 millions de dollars, représentant une croissance dans la moyenne des adolescents.
American Eagle Outfitters (AEO) hat starke Ergebnisse für das dritte Quartal des Geschäftsjahres 2024 gemeldet, mit Wachstum über alle Marken hinweg. Aerie erzielte im dritten Quartal Rekordumsätze mit einem Wachstum der vergleichbaren Verkaufszahlen von 5%, während American Eagle 3% Wachstum bei den vergleichbaren Verkaufszahlen verzeichnete. Der Gesamtumsatz betrug 1,3 Milliarden Dollar, was einem Rückgang von 1% aufgrund des Einflusses eines Verschiebung im Einzelhandelskalender von 45 Millionen Dollar entspricht.
Der Betriebsgewinn erreichte 106 Millionen Dollar mit einer Marge von 8,2%. Der bereinigte Betriebsgewinn lag bei 124 Millionen Dollar und hatte eine Marge von 9,6%. Der Bruttogewinn betrug 527 Millionen Dollar mit einer Marge von 40,9%. Das Unternehmen hielt starke Renditen für die Aktionäre durch Dividenden und Aktienrückkäufe aufrecht.
Für das vierte Quartal erwartet AEO ein vergleichbares Verkaufswachstum von etwa 1% bei einem Gesamtumsatzrückgang von 4%. Die Prognose für das Gesamtjahr sieht ein vergleichbares Verkaufswachstum von etwa 3% und einen bereinigten Betriebsgewinn von 428-433 Millionen Dollar vor, was ein nachhaltiges Wachstum im mittleren Teenager-Bereich darstellt.
- Aerie achieved all-time high Q3 revenue with 5% comp growth
- American Eagle comp sales increased 3%
- Total comparable sales up 3% across brands
- Adjusted operating income of $124 million with 9.6% margin
- SG&A expenses decreased 3% with 50 basis points leverage
- Returned $24 million to shareholders through dividends
- Total revenue declined 1% to $1.3 billion
- Gross margin decreased to 40.9% from 41.8% last year
- Inventory increased 5% to $804 million
- $18 million impairment and restructuring charge recorded
Insights
The Q3 results demonstrate solid execution with notable strengths and some challenges. Key highlights include total comparable sales growth of
However, there are some concerns: Total revenue declined
The company's capital return program remains robust, with
Consumer behavior patterns reveal both opportunities and challenges for AEO. The strong back-to-school season performance indicates healthy demand for the core demographic, while Aerie's continued growth trajectory shows successful market positioning in the intimate apparel and activewear segments.
The guidance for Q4 suggests cautious optimism around holiday shopping, with management acknowledging potential "choppiness during non-peak periods." This reflects broader retail sector trends where consumers are increasingly concentrating spending during key promotional periods.
The company's strategic initiatives, including streamlining corporate costs and adapting international operations (Hong Kong transition to licensed model), demonstrate proactive management of operational efficiency. The focus on maintaining profitable growth while managing inventory and costs positions AEO well in the current retail environment.
-
Aerie achieved all-time high third quarter revenue with comps up
5% , following12% reported comp growth last year -
American Eagle comps increased
3% , following2% reported comp growth last year -
Operating Income was
$106 million $124 million 9.6% - Annual outlook updated; Remain on track to deliver mid-teen adjusted operating income growth, in line with long-term targets
“Building on our positive performance in the first half of the year, third quarter results provide another proof point of the effectiveness of our Powering Profitable Growth Plan. Led by a strong back-to-school season, we achieved comparable sales growth across brands and channels, and delivered adjusted operating income at the high end of our guidance range,” commented Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer.
“We have entered the holiday season well positioned, with our leading brands offering high-quality merchandise, great gifts and an outstanding shopping experience across channels. Key selling periods have seen a positive customer response, yet we remain cognizant of potential choppiness during non-peak periods. The teams are focused on delivering the quarter and with our strong year-to-date performance, we remain confident in achieving our long-term strategic objectives,” he concluded.
Third Quarter 2024 Results:
- Third quarter 2024 results are presented for the 13 weeks ended November 2, 2024 compared to the 13 weeks ended October 28, 2023. Comparable sales metrics are presented for the 13 weeks ended November 2, 2024 compared to the 13 weeks ended November 4, 2023.
-
Total comparable sales increased
3% , following5% reported comp growth last year. -
Total net revenue of
$1.3 billion 1% . This included approximately$45 million -
Aerie comparable sales increased
5% on a12% increase last year. American Eagle comparable sales grew3% following2% growth last year. -
Gross profit of
$527 million 3% . Gross margin of40.9% compared to41.8% last year, reflecting increased markdowns and expense deleverage related to the retail calendar shift. -
Selling, general and administrative expense of
$351 million 3% and leveraged 50 basis points. The improvement was due to lower compensation, including incentive costs, as well as lower professional fees and services and maintenance costs, partially offset by higher advertising. -
Operating income was
$106 million 8.2% . This included an approximately$20 million $124 million $18 million 9.6% was flat to last year. -
Diluted earnings per share was
$0.41 $0.48
Inventory
Total ending inventory increased
Shareholder Returns
In the third quarter, the company returned approximately
Additionally, during the first half of the year, the company repurchased 6 million shares for
Capital Expenditures
Capital expenditures totaled
Restructuring and Impairment Charges
In the third quarter, the company recorded an
Outlook
Fourth quarter comparable sales are expected to be up approximately
For the year, this implies comparable sales growth of approximately
FY24 Quarterly Impact of Retail Calendar
|
1Q |
2Q |
3Q |
4Q |
FY24 |
Revenue Impact |
|
|
- |
- |
- |
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 net income and net income per diluted 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 13 weeks and 39 weeks ended November 2, 2024, Fiscal 2024 and Fiscal 2023 .
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, fourth 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) | ||||||||
| November 2, 2024 | October 28, 2023 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ |
160,195 |
|
$ |
240,940 |
|
||
| Merchandise inventory |
|
804,256 |
|
|
769,315 |
|
||
| Accounts receivable, net |
|
214,114 |
|
|
239,374 |
|
||
| Prepaid expenses |
|
118,773 |
|
|
81,423 |
|
||
| Other current assets |
|
38,810 |
|
|
22,366 |
|
||
| Total current assets |
|
1,336,148 |
|
|
1,353,418 |
|
||
| Operating lease right-of-use assets |
|
1,237,741 |
|
|
995,023 |
|
||
| Property and equipment, at cost, net of accumulated depreciation |
|
745,988 |
|
|
742,793 |
|
||
| Goodwill, net |
|
225,196 |
|
|
264,825 |
|
||
| Non-current deferred income taxes |
|
88,092 |
|
|
20,791 |
|
||
| Intangible assets, net |
|
43,371 |
|
|
88,201 |
|
||
| Other assets |
|
59,596 |
|
|
55,735 |
|
||
| Total assets | $ |
3,736,132 |
|
$ |
3,520,786 |
|
||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ |
283,471 |
|
$ |
300,031 |
|
||
| Current portion of operating lease liabilities |
|
293,006 |
|
|
294,898 |
|
||
| Accrued compensation and payroll taxes |
|
90,289 |
|
|
96,484 |
|
||
| Unredeemed gift cards and gift certificates |
|
50,161 |
|
|
47,676 |
|
||
| Accrued income and other taxes |
|
38,468 |
|
|
19,255 |
|
||
| Other current liabilities and accrued expenses |
|
95,620 |
|
|
72,887 |
|
||
| Total current liabilities |
|
851,015 |
|
|
831,231 |
|
||
| Non-current liabilities: | ||||||||
| Non-current operating lease liabilities |
|
1,098,197 |
|
|
927,019 |
|
||
| Other non-current liabilities |
|
40,322 |
|
|
24,247 |
|
||
| Total non-current liabilities |
|
1,138,519 |
|
|
951,266 |
|
||
| Commitments and contingencies |
|
— |
|
|
— |
|
||
| Stockholders’ equity: | ||||||||
| Preferred stock |
|
— |
|
|
— |
|
||
| Common stock |
|
2,496 |
|
|
2,496 |
|
||
| Contributed capital |
|
359,348 |
|
|
343,695 |
|
||
| Accumulated other comprehensive loss |
|
(49,872 |
) |
|
(32,865 |
) |
||
| Retained earnings |
|
2,376,077 |
|
|
2,234,761 |
|
||
| Treasury stock |
|
(941,451 |
) |
|
(809,798 |
) |
||
| Total stockholders’ equity |
|
1,746,598 |
|
|
1,738,289 |
|
||
| Total liabilities and stockholders’ equity | $ |
3,736,132 |
|
$ |
3,520,786 |
|
||
| Current |
|
1.57 |
|
|
1.63 |
|
||
| AMERICAN EAGLE OUTFITTERS, INC. | ||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||
| (Unaudited; Dollars and shares in thousands, except per share amounts) | ||||||||||||||
| GAAP Basis | ||||||||||||||
| 13 Weeks Ended | ||||||||||||||
| November 2, 2024 | October 28, 2023 | |||||||||||||
| (In thousands) | (Percentage of revenue) |
(In thousands) | (Percentage of revenue) |
|||||||||||
| Total net revenue | $ |
1,289,094 |
|
100.0 |
% |
$ |
1,301,055 |
|
100.0 |
% |
||||
| Cost of sales, including certain buying, occupancy and warehouse expenses |
|
762,470 |
|
59.1 |
|
|
757,258 |
|
58.2 |
|
||||
| Gross profit |
|
526,624 |
|
40.9 |
|
|
543,797 |
|
41.8 |
|
||||
| Selling, general and administrative expenses |
|
351,380 |
|
27.3 |
|
|
361,992 |
|
27.8 |
|
||||
| Impairment, restructuring and other charges |
|
17,561 |
|
1.4 |
|
|
— |
|
0.0 |
|
||||
| Depreciation and amortization expense |
|
51,594 |
|
4.0 |
|
|
56,444 |
|
4.4 |
|
||||
| Operating income |
|
106,089 |
|
8.2 |
|
|
125,361 |
|
9.6 |
|
||||
| Interest (income), net |
|
(1,246 |
) |
(0.1 |
) |
|
(2,871 |
) |
(0.2 |
) |
||||
| Other (income), net |
|
(895 |
) |
(0.1 |
) |
|
(3,984 |
) |
(0.3 |
) |
||||
| Income before income taxes | $ |
108,230 |
|
8.4 |
|
$ |
132,216 |
|
10.1 |
|
||||
| Provision for income taxes |
|
28,211 |
|
2.2 |
|
|
35,516 |
|
2.7 |
|
||||
| Net income | $ |
80,019 |
|
6.2 |
% |
$ |
96,700 |
|
7.4 |
% |
||||
| Net income per basic share | $ |
0.42 |
|
$ |
0.50 |
|
||||||||
| Net income per diluted share | $ |
0.41 |
|
$ |
0.49 |
|
||||||||
| Weighted average common shares outstanding - basic |
|
191,630 |
|
|
195,343 |
|
||||||||
| Weighted average common shares outstanding - diluted |
|
195,782 |
|
|
198,367 |
|
||||||||
| AMERICAN EAGLE OUTFITTERS, INC. | ||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||
| (Unaudited; Dollars and shares in thousands, except per share amounts) | ||||||||||||||
| GAAP Basis | ||||||||||||||
| 39 Weeks Ended | ||||||||||||||
| November 2, 2024 | October 28, 2023 | |||||||||||||
| (In thousands) | (Percentage of revenue) |
(In thousands) | (Percentage of revenue) |
|||||||||||
| Total net revenue | $ |
3,724,019 |
|
100.0 |
% |
$ |
3,582,859 |
|
100.0 |
% |
||||
| Cost of sales, including certain buying, occupancy and warehouse expenses |
|
2,234,260 |
|
60.0 |
|
|
2,172,867 |
|
60.6 |
|
||||
| Gross profit |
|
1,489,759 |
|
40.0 |
|
|
1,409,992 |
|
39.4 |
|
||||
| Selling, general and administrative expenses |
|
1,030,186 |
|
27.7 |
|
|
1,006,210 |
|
28.1 |
|
||||
| Impairment, restructuring, and other charges |
|
17,561 |
|
0.4 |
|
|
21,275 |
|
0.6 |
|
||||
| Depreciation and amortization expense |
|
156,978 |
|
4.2 |
|
|
169,026 |
|
4.7 |
|
||||
| Operating income |
|
285,034 |
|
7.7 |
|
|
213,481 |
|
6.0 |
|
||||
| Interest (income), net |
|
(5,414 |
) |
(0.1 |
) |
|
(1,229 |
) |
0.0 |
|
||||
| Other (income), net |
|
(4,006 |
) |
(0.1 |
) |
|
(9,446 |
) |
(0.3 |
) |
||||
| Income before income taxes | $ |
294,454 |
|
7.9 |
|
$ |
224,156 |
|
6.3 |
|
||||
| Provision for income taxes |
|
69,420 |
|
1.9 |
|
|
60,434 |
|
1.7 |
|
||||
| Net income | $ |
225,034 |
|
6.0 |
% |
$ |
163,722 |
|
4.6 |
% |
||||
| Net income per basic share | $ |
1.16 |
|
$ |
0.84 |
|
||||||||
| Net income per diluted share | $ |
1.14 |
|
$ |
0.83 |
|
||||||||
| Weighted average common shares outstanding - basic |
|
193,908 |
|
|
195,467 |
|
||||||||
| Weighted average common shares outstanding - diluted |
|
198,201 |
|
|
197,969 |
|
||||||||
| AMERICAN EAGLE OUTFITTERS, INC. | ||||||||||||||||
| NET REVENUE BY SEGMENT | ||||||||||||||||
| (Unaudited; Dollars in thousands) | ||||||||||||||||
| 13 Weeks Ended | 39 Weeks Ended | |||||||||||||||
| November 2, 2024 | October 28, 2023 | November 2, 2024 | October 28, 2023 | |||||||||||||
| Net Revenue: | ||||||||||||||||
| American Eagle | $ |
831,914 |
|
$ |
857,378 |
|
$ |
2,384,295 |
|
$ |
2,295,487 |
|
||||
| Aerie |
|
410,442 |
|
|
393,042 |
|
|
1,198,741 |
|
|
1,132,537 |
|
||||
| Other |
|
56,562 |
|
|
111,805 |
|
|
169,002 |
|
|
329,480 |
|
||||
| Intersegment Elimination |
|
(9,824 |
) |
|
(61,170 |
) |
|
(28,019 |
) |
|
(174,645 |
) |
||||
| Total Net Revenue | $ |
1,289,094 |
|
$ |
1,301,055 |
|
$ |
3,724,019 |
|
$ |
3,582,859 |
|
||||
| AMERICAN EAGLE OUTFITTERS, INC. | |||||
| STORE INFORMATION | |||||
| (Unaudited) | |||||
| 13 Weeks Ended | 39 Weeks Ended | ||||
| November 2, 2024 | November 2, 2024 | ||||
| Consolidated stores at beginning of period | 1,178 |
|
1,182 |
|
|
| Consolidated stores opened during the period | |||||
| AE Brand (1) | 8 |
|
14 |
|
|
| Aerie (incl. OFFL/NE) (2) | 7 |
|
17 |
|
|
| Todd |
2 |
|
4 |
|
|
| Consolidated stores closed during the period | |||||
| AE Brand (1) | (6 |
) |
(20 |
) |
|
| Aerie (incl. OFFL/NE) (2) | (3 |
) |
(10 |
) |
|
| Unsubscribed | — |
|
(1 |
) |
|
| Total consolidated stores at end of period | 1,186 |
|
1,186 |
|
|
| Stores by Brand | |||||
| AE Brand (1) | 845 |
|
|||
| Aerie (incl. OFFL/NE) (2) | 317 |
|
|||
| Todd |
19 |
|
|||
| Unsubscribed | 5 |
|
|||
| Total consolidated stores at end of period | 1,186 |
|
|||
| Total gross square footage at end of period (in '000) | 7,282 |
|
7,282 |
|
|
| International license locations at end of period (3) | 310 |
|
310 |
|
|
| (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. |
| AMERICAN EAGLE OUTFITTERS, INC. | ||||||||||||||
| GAAP to Non-GAAP Reconciliation | ||||||||||||||
| (Dollars in thousands, except per share amounts) | ||||||||||||||
| 13 Weeks Ended | ||||||||||||||
| November 2, 2024 | ||||||||||||||
| Operating Income |
Provision for Income Taxes |
Net Income | Earnings per Diluted Share |
|||||||||||
| GAAP Basis | $ |
106,089 |
|
$ |
28,211 |
$ |
80,019 |
|
$ |
0.41 |
||||
| % of Revenue |
|
8.2 |
% |
|
6.2 |
% |
||||||||
| Add: Impairment, restructuring and other charges (1) | $ |
17,561 |
|
$ |
12,983 |
|
$ |
0.07 |
||||||
| Tax effect of the above (2) | $ |
4,578 |
||||||||||||
| Non-GAAP Basis | $ |
123,650 |
|
$ |
32,789 |
$ |
93,002 |
|
$ |
0.48 |
||||
| % of Revenue |
|
9.6 |
% |
|
7.3 |
% |
||||||||
| The following footnotes relate to impairment, restructuring, and other charges recorded in the 13 weeks ended November 2, 2024: | ||||||||
| (1) The Company recorded restructuring costs of |
||||||||
| (2) The tax effect of excluded items is the difference between the tax provision calculated on a GAAP basis and an adjusted non-GAAP basis. |
| AMERICAN EAGLE OUTFITTERS, INC. | ||||||||||||||
| GAAP to Non-GAAP Reconciliation | ||||||||||||||
| (Dollars in thousands, except per share amounts) | ||||||||||||||
| 39 Weeks Ended | ||||||||||||||
| November 2, 2024 | ||||||||||||||
| Operating Income |
Provision for Income Taxes |
Net Income | Earnings per Diluted Share |
|||||||||||
| GAAP Basis | $ |
285,034 |
|
$ |
69,420 |
$ |
225,034 |
|
$ |
1.14 |
||||
| % of Revenue |
|
7.7 |
% |
|
6.0 |
% |
||||||||
| Add: Impairment, restructuring and other charges (1) | $ |
17,561 |
|
$ |
12,983 |
|
$ |
0.06 |
||||||
| Tax effect of the above (2) | $ |
4,578 |
||||||||||||
| Non-GAAP Basis | $ |
302,595 |
|
$ |
73,998 |
$ |
238,017 |
|
$ |
1.20 |
||||
| % of Revenue |
|
8.1 |
% |
|
6.4 |
% |
||||||||
| The following footnotes relate to impairment, restructuring, and other charges recorded in the 39 weeks ended November 2, 2024: | ||||||||
| (1) The Company recorded restructuring costs of |
||||||||
| (2) The tax effect of excluded items is the difference between the tax provision calculated on a GAAP basis and an adjusted non-GAAP basis. |
| GAAP to Non-GAAP Reconciliation | ||||
| Fiscal 2024 Guidance | ||||
| (Dollars in millions) | ||||
| Operating | ||||
| Income | ||||
| Low End | High End | |||
| GAAP Basis | $ |
410 |
$ |
415 |
| Add: Impairment, Restructuring and Other Charges(1) | $ |
18 |
$ |
18 |
| Non-GAAP Basis | $ |
428 |
$ |
433 |
| (1) During the 13 weeks ended November 2, 2024, the Company recorded restructuring costs of |
| GAAP to Non-GAAP Reconciliation | ||||
| 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 |
% |
|
| 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/20241203475243/en/
Line Media
412-432-3300
LineMedia@ae.com
Source: American Eagle Outfitters, Inc.
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