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January 14, 2020

American Eagle reaffirms Q4 guidance on record holiday sales

US fashion retailer American Eagle Outfitters has reaffirmed its fourth-quarter guidance after another holiday season of "record" revenue.

By Michelle Russell

US fashion retailer American Eagle Outfitters has reaffirmed its fourth-quarter guidance after another holiday season of “record” revenue.

In an update yesterday (13 January), the company said fourth-quarter comparable sales to date are approximately flat, following a 6% comp increase last year.

American Eagle said it still expects fourth-quarter EPS guidance in the range of US$0.34 to $0.36 per diluted share. This excludes potential asset impairment and restructuring charges.

“Despite some expected challenges, we delivered another holiday season of record revenue, driven by strength in the Aerie brand and American Eagle’s signature jeans collections,” said Jay Schottenstein, AEO’s chief executive officer. “We look forward to the new fiscal year, as we continue to fuel our growth pillars, while positioning AEO for greater success and improved profitability.”

In its third-quarter, the company saw total net revenue increase by 6% to a record $1.07bn, compared to $1bn last year. Consolidated comparable sales were up by 5%, following an 8% comparable sales increase last year, and were positive across both store and digital channels.

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