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Q2 sales rise 35 percent at American Eagle Outfitters

By Prachi Singh

Sep 2, 2021

Report

Image: American Eagle Outfitters, Facebook

Total net revenue for the second quarter at American Eagle Outfitters (AEO) increased 311 million dollars or 35 percent to 1.19 billion dollars compared to the second quarter of 2020.

The company said Aerie revenue of 336 million rose 34 percent from second quarter 2020 on top of 32 percent growth last year. American Eagle revenue of 846 million dollars rose 35 percent versus second quarter 2020 following a 26 percent decline last year.

“It’s extremely gratifying to see significant growth across our business, as we delivered another quarter of record revenue and profitability. Despite external challenges, I believe we are on path to achieve 600 million dollars in operating income this year, well ahead of our previous target,” said Jay Schottenstein, AEO’s Executive chairman of the board and chief executive officer.

The company’s consolidated store revenue increased 73 percent due to an improvement in store traffic. Total online demand this quarter was up 9 percent and digital revenue decreased 5 percent from second quarter 2020. Compared to the pre-pandemic second quarter 2019 base, store revenue increased 4 percent and digital revenue increased 66 percent.

Gross profit of 502 million dollars rose 89 percent from 265 million dollars in the second quarter of 2020, while gross margin of 42.1 percent expanded 1210 basis points from 30 percent in the second quarter of 2020. EPS for the quarter was 58 cents and adjusted EPS was 60 cents.