WARRENDALE, Pa., Oct. 9 /PRNewswire-FirstCall/ --
American Eagle Outfitters, Inc. (Nasdaq: AEOS) today announced that total
sales for the five-week period ended October 5, 2002 declined 0.2% to
$113.2 million, compared to $113.4 million for the five-week period ended
October 6, 2001. Total sales for the period include $7.1 million from the
Bluenotes/Thriftys operation, compared to $9.9 million for the corresponding
period last year.
Comparable store sales for the American Eagle Outfitters stores declined
8.1% for the September period. Consolidated comparable store sales, which
include American Eagle and Bluenotes/Thriftys stores, decreased 10.1% for the
month compared to the corresponding period ended October 6, 2001.
Bluenotes/Thriftys comparable store sales declined 30.2% in September compared
to last year.
Total sales for the thirty-five week period ended October 5, 2002
increased 7.1% to $866.8 million from $809.2 million for the thirty-five week
period ended October 6, 2001. Total sales for the period include
$52.8 million from the Bluenotes/Thriftys operation, compared to $64.3 million
for the corresponding period last year.
Comparable store sales for the American Eagle Outfitters stores declined
5.4% for the thirty-five week period ended October 5, 2002. Consolidated
comparable store sales, which include American Eagle and Bluenotes/Thriftys
stores, decreased 6.6% for the thirty-five week period compared to the
corresponding period ended October 6, 2001. Bluenotes/Thriftys comparable
store sales declined 20.4% for the period compared to last year.
The Company is pleased with the relative strength in its women's division
and believes that its Holiday assortment is fashion right in both men's and
women's. However, the economy and retail environment remain challenging. If
the soft retail environment prevails through October, third quarter earnings
per share could be in the range of $0.31 to $0.34. Regarding the fourth
quarter, the Company's outlook is cautious. A continuation of the weak retail
environment, combined with late receipts of certain holiday goods and
increased freight costs arising from the west coast dock shutdown, could
result in fourth quarter earnings per share to be in the range of $0.50 to
$0.55.
To access our recorded monthly sales commentary, please call 800-642-1687,
conference code #3282124.
American Eagle Outfitters (Nasdaq: AEOS) is a leading lifestyle retailer
that designs, markets, and sells its own brand of relaxed, versatile clothing
for 16 to 34 year-olds, providing high-quality merchandise at affordable
prices. AE's lifestyle collection includes casual basics like khakis, cargos,
and jeans; fashion tops like rugbys, polos, and graphic T's; and functional
items like swimwear, outerwear, footwear, and accessories. AE's Canadian
subsidiary, Bluenotes/Thriftys, targets a slightly younger demographic,
offering a more urban/suburban, denim-driven collection for 12 to 22 year-
olds. American Eagle Outfitters currently operates 679 AE stores in 48 states
and the District of Columbia, 56 AE stores in Canada, and 111
Bluenotes/Thriftys stores in Canada. AE also operates via its internet
business, ae.com.
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 third
and fourth 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 third and fourth 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, +1-724-776-4857,
both of American Eagle Outfitters
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