{"id":108591,"date":"2021-03-04T00:15:42","date_gmt":"2021-03-04T00:15:42","guid":{"rendered":"https:\/\/fin2me.com\/?p=108591"},"modified":"2021-03-04T00:15:42","modified_gmt":"2021-03-04T00:15:42","slug":"american-eagle-expects-best-first-quarter-sales-in-three-years-on-aerie-strength","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/american-eagle-expects-best-first-quarter-sales-in-three-years-on-aerie-strength\/","title":{"rendered":"American Eagle expects best first-quarter sales in three years on Aerie strength"},"content":{"rendered":"

(Reuters) – American Eagle Outfitters Inc said on Wednesday it expects current-quarter revenue and operating income to surpass last two years\u2019 numbers, betting on high-growth brand Aerie that sells work-from-home favorites lingerie and loungewear.<\/p>

FILE PHOTO: Clothing is seen for sale in an American Eagle Outfitters retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS\/Mike Segar<\/figcaption>

Shares of the Pittsburgh-based apparel retailer rose more than 5% in after market trade, as the company also beat Wall Street expectations for fourth-quarter revenue and profit.<\/p>\n

\u201cWe\u2019re seeing really good signs in terms of where we\u2019re headed for the quarter,\u201d Chief Executive Jay Schottenstein told analysts.<\/p>\n

The apparel retailer has been doubling down on investments in its Aerie brand, which includes comfortable leggings and bralettes, opening new stores and boosting its digital business.<\/p>\n

American Eagle is also closing some of its underperforming stores and moving away from malls, where traffic has been thinning, and will open new stand-alone stores. The company plans to open 50 Aerie stores this year.<\/p>\n

For the fourth quarter ended Jan. 30, Aerie recorded a 25% rise in revenue from a year earlier, while digital revenue for the retailer surged 35%.<\/p>\n

\u201cAerie had an exceptional 2020….and (we) see significant future runway,\u201d Schottenstein said.<\/p>\n

The company forecast higher spending for fiscal 2021, as it plans investments in supply chain to ensure fast delivery and online features for the convenience of shoppers.<\/p>\n

It expects annual capital expenditure to be in the range of $250 million to $275 million, up from $128 million in 2020.<\/p>\n

For the fourth quarter, total net revenue fell about 2% to $1.29 billion, beating analysts\u2019 average expectation of $1.28 billion, according to Refinitiv estimates.<\/p>\n

Excluding one-time items, the company earned a profit of 39 cents per share, beating estimates of 36 cents.<\/p>\n

Holiday-quarter earnings, however, fell about 25%, weighed by underperforming stores and a charge of $103 million due to pandemic-related expenses.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – American Eagle Outfitters Inc said on Wednesday it expects current-quarter revenue and operating income to surpass last two years\u2019 numbers, betting on high-growth […]<\/p>\n","protected":false},"author":3,"featured_media":108590,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nAmerican Eagle expects best first-quarter sales in three years on Aerie strength - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/american-eagle-expects-best-first-quarter-sales-in-three-years-on-aerie-strength\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"American Eagle expects best first-quarter sales in three years on Aerie strength - 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