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American Eagle Outfitters posts strong performance by Aerie

By Prachi Singh

Nov 25, 2020


American Eagle Outfitters, Inc. reported operating income of 96 million dollars for the third quarter compared to 103 million dollars, while EPS was 32 cents compared to 48 cents last year. Total net revenue for the 13 weeks decreased 35 million dollars or 3 percent to 1.03 billion dollars reflecting mall traffic declines related to Covid-19, offset by strong online sales.

Commenting on the trading results, Jay Schottenstein, AEO’s Executive Chairman of the board and Chief Executive Officer said: “Once again, Aerie delivered outstanding results, demonstrating the power of this incredible brand and the massive opportunity ahead. We are very pleased with early holiday trends in November and the strong response to our assortments.”

By brand, the company said, American Eagle revenue decreased 11 percent, following a 2 percent increase last year and Aerie’s revenue increased 34 percent, following a 26 percent increase last year. AEO’s digital reported revenue increased 29 percent with Aerie digital revenue rising 83 percent and AE witnessing an increase of 11 percent.