American Eagle Outfitters has announced that business is exceeding expectations with first quarter revenue on track to over 1 billion dollars, a mid-teens increase compared to pre-Covid-19 first quarter reported revenue. The company said, demand has accelerated across the American Eagle and Aerie brands, generating strong margins, higher full-priced selling and reduced promotions.
For the period, management expects operating income of approximately 120 million dollars, compared to first quarter 2019 operating income of 48 million dollars and adjusted operating income of 49 million dollars.
“I’m amazed by the incredible momentum of Aerie, which is consistently reaching new heights and exceeding our expectations. We are seeing great progress at American Eagle, with stronger merchandise, marketing and inventory management clearly demonstrating the power and true potential of our leading brand,” said Jay Schottenstein, AEO’s executive chairman and chief executive officer.