WARRENDALE, Pa., Nov. 6 /PRNewswire-FirstCall/ --
American Eagle Outfitters, Inc. (Nasdaq: AEOS) today announced that total
sales for the four-week period ended November 2, 2002 increased 6.4% to
$104.8 million, compared to $98.4 million for the four-week period ended
November 3, 2001. Total sales for the period include $5.2 million from the
Bluenotes/Thriftys operation, compared to $6.7 million for the corresponding
period last year.
Comparable store sales for the American Eagle Outfitters stores declined
2.0% for the October period. Consolidated comparable store sales, which
include American Eagle and Bluenotes/Thriftys stores, decreased 3.5% for the
month compared to the corresponding period ended November 3, 2001.
Bluenotes/Thriftys comparable store sales declined 23.3% in October compared
to last year.
Total sales for the thirteen-week period ended November 2, 2002 increased
3.0% to $374.5 million from $363.7 million for the thirteen-week period ended
November 3, 2001. Total sales for the period include $21.7 million from the
Bluenotes/Thriftys operation, compared to $29.4 million for the corresponding
period last year.
Comparable store sales for the American Eagle Outfitters stores declined
5.2% for the thirteen-week period ended November 2, 2002. Consolidated
comparable stores sales, which include American Eagle and Bluenotes/Thriftys
stores, decreased 7.0% for the thirteen-week period compared to the
corresponding period ended November 3, 2001. Bluenotes/Thriftys comparable
store sales declined 27.5% for the period compared to last year.
Total sales for the thirty-nine week period ended November 2, 2002
increased 7.0% to $971.6 million from $907.6 million for the thirty-nine week
period ended November 3, 2001. Total sales for the period include
$58.0 million from the Bluenotes/Thriftys operation, compared to $70.9 million
for the corresponding period last year.
Comparable store sales for the American Eagle Outfitters stores declined
5.0% for the thirty-nine week period ended November 2, 2002. Consolidated
comparable store sales, which include American Eagle and Bluenotes/Thriftys
stores, decreased 6.2% for the thirty-nine week period compared to the
corresponding period ended November 3, 2001. Bluenotes/Thriftys comparable
store sales declined 20.6% for the period compared to last year.
After a disappointing August and September, October sales exceeded our
expectations. As a result, third quarter earnings per share will be at or
slightly above the high end of the $0.31 to $0.34 range, which the Company
discussed in its September sales release. While it is still early in the
fourth quarter, if current sales momentum continues, there could be upside to
the fourth quarter First Call consensus estimate of $0.51.
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 687 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, http://www.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 fourth quarter sales and third and fourth
quarter 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.
 back to top
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
|
