WARRENDALE, Pa., April 27 /PRNewswire/ --
American Eagle Outfitters, Inc. (Nasdaq: AEOS) today announced that it expects
first quarter earnings to be in the range of $0.26 to $0.28 per share on a
diluted basis, compared to 1999 first quarter earnings of $0.25 per share on a
diluted basis.
George Kolber, Vice Chairman and Chief Operating Officer, commented: "Due
in part to unseasonably cold weather throughout the period, first quarter
sales were below our expectations. Although we are generally pleased with the
sales of our core spring line, certain categories underperformed. Notably,
our dress business, a once-a-year event centered around Easter, did not meet
our expectations."
Mr. Kolber continued, "So far this year we have opened 24 new stores, well
on track for the 90 new stores we expect to open this year. Our brand is
strong and our growth opportunities have never been better."
American Eagle Outfitters, Inc. is a specialty retailer of all-American,
casual apparel, accessories, and footwear for men and women between the ages
of 14 and 30. The Company designs, markets, and sells its own brand of
versatile, relaxed, and timeless classics like AE jeans, cargos, and T-shirts,
providing high quality merchandise at affordable prices. The Company
currently operates 490 stores in 46 states and the District of Columbia.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: This release contains forward-looking statements, which represent
American Eagle Outfitters' 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 final sales for the quarter, completion of the
Company's first quarter financial statements, 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 these forward-looking
statements. The Company does not undertake to publicly update or revise its
forward-looking statements even if experience or future changes make it clear
that any projected results expressed or implied therein will not be realized.
SOURCE American Eagle Outfitters, Inc.
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Related links:
http://www.ae-outfitters.com
Company News On-Call:
http://www.prnewswire.com/comp/104763.html or fax,
800-758-5804, ext. 104763
CONTACT:
Laura Weil or Judy Meehan of American Eagle
Outfitters, 724-776-4857
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