Lowers Third Quarter EPS Guidance
PITTSBURGH, October 10 /CNW/ - American Eagle Outfitters, Inc. (NYSE: AEO)
today announced that total sales for the five weeks ended October 6, 2007 were
$222.8 million, a decrease of 5% compared to $233.4 million for the five weeks
ended September 30, 2006. Due to the 53rd week in fiscal 2006, September 2007
comps are compared to the five week period ended October 7, 2006. On this
basis, comparable store sales decreased 2%, compared to an 11% increase for
the same period last year.
September sales were below the company's expectations due in part to
lower store traffic, particularly in regions where weather was unseasonably
warm compared to last year.
Total sales for the year-to-date 35 week period ended October 6, 2007
increased 13% to $1.850 billion, compared to $1.635 billion for the 35 week
period ended September 30, 2006. Comparable store sales increased 4% for the
Based on September sales results, the company lowered its outlook for
October, which is reflected in its revised third quarter earnings guidance of
$0.44 to $0.45 per share, compared to $0.44 per share last year. Previous
third quarter guidance was $0.47 to $0.48 per share.
To access the company's recorded monthly sales commentary, please call
800-642-1687, conference code 3282124#.
The company will report October sales on Wednesday, November 7th and
third quarter earnings will be announced on Tuesday, November 27th. Management
will hold a conference call to discuss third quarter earnings at 9:00 a.m.
Eastern Time that morning. To listen to the call, dial 1-877-601-0864. The
conference call will also be simultaneously broadcast over the Internet at
About American Eagle Outfitters:
American Eagle Outfitters, Inc. (NYSE: AEO) 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 846 stores in 50 states, the District of Columbia and
Puerto Rico, and 74 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 collection of
dormwear and intimates, "aerie by American Eagle," which is available in 19
aerie stores, American Eagle stores 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.
MARTIN + OSA, a new sportswear concept targeting 25 to 40 year-old women
and men, carries apparel, accessories and footwear, using denim and sport
inspiration to design fun and sport back into sportswear. MARTIN + OSA
currently operates 13 stores. For additional information and updates, visit
"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
third quarter earnings. 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 the company's third quarter earnings expectations may
not be achieved, and the 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,
412-432-3300 OR Financial Media Contact Berns Communications Group Stacy Berns
or Melissa Jaffin, 212-994-4660