WARRENDALE, Pa., April 9 /PRNewswire-FirstCall/ -- American Eagle
Outfitters, Inc. (Nasdaq: AEOS) today announced total sales for the five-week
period ended April 6, 2002 increased 15.4% to $117.4 million, compared to
$101.7 million for the five-week period ended April 7, 2001. Total sales for
the period include $7.1 million from the Bluenotes/Thriftys operation,
compared to $8.0 million for the corresponding period last year.
Comparable store sales for the American Eagle Outfitters stores were flat
for the March period. Consolidated comparable store sales, which include
American Eagle and Bluenotes/Thriftys stores, decreased 1.3% for the month
compared to the corresponding period ended April 7, 2001. Bluenotes/Thriftys
comparable store sales declined 15.9% in March compared to last year.
Total sales for the nine-week period ended April 6, 2002 increased 15.8%
to $188.5 million, compared to $162.8 million for the nine-week period ended
April 7, 2001. Total sales for the period include $11.7 million from the
Bluenotes/Thriftys operation, compared to $13.4 million for the corresponding
period last year.
Comparable store sales for the American Eagle Outfitters stores declined
0.5% for the nine-week period ended April 6, 2002. Consolidated comparable
store sales, which include American Eagle and Bluenotes/Thriftys stores
decreased 1.7% for the nine-week period compared to the corresponding period
last year. Bluenotes/Thriftys comparable store sales declined 15.7% for the
period compared to the corresponding period last year.
Due to lower-than-expected sales in February and March, the Company
currently expects first quarter earnings to be in the range of $0.14 to
$0.17 per share.
Founded in 1977, the Company designs, markets, and sells the American
Eagle brand of relaxed, clean, and versatile clothing for 16 to 34 year olds,
providing high-quality merchandise at affordable prices. AE's lifestyle
collection offers casual basics like cargos complemented by fashion looks in
stretch, denim, and other modern fabrications. The Company also operates the
Bluenotes/Thriftys specialty apparel chain in Canada. Bluenotes/Thriftys
offers an urban inspired, denim-driven collection for 12 to 22 year olds. The
Company currently operates 636 American Eagle Outfitters stores in 47 states
and the District of Columbia, 46 American Eagle Outfitters stores in Canada,
and 112 Bluenotes/Thriftys stores in Canada. AE also operates via its
Internet business, ae.com.
To access our recorded monthly sales commentary, please call 800-642-1687,
conference code #3282124.
"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 first
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 our first quarter sales and financial plans may not be achieved,
and those other risks described in the Company's filings 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.
SOURCE American Eagle Outfitters, Inc.
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Related links:
http://www.ae.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/104763.html
CONTACT:
Laura Weil or Judy Meehan of American Eagle
Outfitters, +1-724-776-4857
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