AERIE DRIVING AMERICAN EAGLE’S SALES IN THIRD QUARTER
American Eagle Outfitters (AEO) reported record third quarter sales on Tuesday. The retailer brought in $1 billion compared to $960 million last year, a 5 percent increase.
This growth was mainly driven by its women’s underwear brand Aerie, which reported a comparable sales increase of 32 percent in the third quarter, following a 19 percent increase last year, marking the 16th consecutive quarter of double-digit comp growth. The company’s namesake brand only reported a 5 percent bump in the quarter, building on a 1 percent increase last year.
“I am proud to announce another outstanding performance this period for AEO, marking record sales and our first $1 billion third quarter,” said Jay Schottenstein, AEO’s chief executive officer. “American Eagle and Aerie had extremely well-executed back-to-school and fall seasons, fueling strong sales across stores and double-digit growth in digital, on lower promotional activity across channels. The holiday season is off to a positive start and I’d like to thank our teams for the exceptional effort and enthusiasm they are bringing to this holiday season. Looking forward, we will leverage our momentum and brand strength as we continue to drive growth and deliver returns to our shareholders.”
During the quarter, the company opened 5 American Eagle stores and closed 3, ending with 941 stores, including 142 Aerie side-by-side locations. The company opened 2 Aerie stand-alone stores and closed 1, ending with 110 Aerie stand-alone stores. Internationally, the company ended the quarter with 223 licensed stores.
