Declares Quarterly Cash Dividend
WARRENDALE, PA., March 6 /CNW/ - American Eagle Outfitters, Inc.
(NASDAQ: AEOS) today announced that its Board of Directors authorized an
additional 7 million shares for its repurchase program. During the fourth
quarter, the company completed the repurchase of the 2.3 million shares that
were available under its previous authorizations. In fiscal 2006, the company
repurchased a total of 5.3 million shares.
The Board of Directors also declared a quarterly cash dividend of $0.075
per share payable on April 13, 2007 to stockholders of record at the close of
business on March 30, 2007.
"We are pleased that American Eagle's strategic initiatives and operating
disciplines have continued to drive growth and profitability. Our strong cash
flow enables us to provide additional shareholder value through an increase in
our share repurchase authorization, as well as the continuation of our cash
dividend policy," stated Chief Executive Officer, Jim O'Donnell.
About American Eagle Outfitters:
American Eagle Outfitters, Inc. (Nasdaq: AEOS) is a leading retailer that
operates under the American Eagle Outfitters and MARTIN + OSA brands.
American Eagle Outfitters designs, markets and sells its own brand of
laidback, current clothing targeting 15 to 25 year-olds, providing
high-quality merchandise at affordable prices. AE's original collection
includes standards like jeans and graphic Ts as well as essentials like
accessories, outerwear, footwear, basics and swimwear. American Eagle
currently operates 834 stores in 50 states, the District of Columbia and
Puerto Rico, and 72 AE stores in Canada. American Eagle also operates ae.com,
which offers additional sizes and styles of favorite AE merchandise and ships
around the world. The American Eagle brand also includes a new collection of
dormwear and intimates, "aerie by American Eagle." aerie is available in
American Eagle stores across the country and at aerie.com. It includes bras,
undies, camis, hoodies, robes, boxers, sweats and leggings for the AE girl.
Designed to be sweetly sexy, comfortable and cozy, aerie offers AE customers a
new way to express their personal style everyday, from the dormroom to the
coffee shop to the classroom.
The company introduced MARTIN + OSA, a new sportswear concept targeting
25 to 40 year-old women and men. MARTIN + OSA carries apparel, accessories and
footwear, using denim and sport inspiration to design fun and sport back into
sportswear. MARTIN + OSA currently operates six stores. For additional
information and updates, visit martinandosa.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, specifically regarding
future earnings, growth and financial position. 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 future earnings expectations and growth
plans may not be achieved may not be achieved and those other 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.
For further information:
For further information: American Eagle Outfitters, Inc. Judy Meehan,
724-776-4857 OR Financial Media Contact Berns Communications Group Stacy Berns
or Melissa Jaffin, 212-994-4660