×
60 610
Fashion Jobs
MIZZEN+MAIN
Account Executive - Specialty ne & Midwest
Permanent · DALLAS
COTY
Area Sales Manager
Permanent · Miami
LEVI'S
Part-Time Sales Supervisor
Permanent · Katy
SALLY BEAUTY HOLDINGS LLC
Outside Sales Representative -Cosmoprof
Permanent · Colorado Springs
SALLY BEAUTY HOLDINGS LLC
2nd Shift Inventory Control Specialist
Permanent · Jacksonville
NORDSTROM
Asset Protection - Agent - North Point Marketcenter Rack
Permanent · Alpharetta
NORDSTROM
Asset Protection - Agent - The Outlet Collection Rack
Permanent · Auburn
NORDSTROM
Asset Protection - Security Ambassador - Galleria at Roseville
Permanent · Roseville
LULULEMON
Assistant Manager, Operations | Cherry Creek Mall (1 Year Contract)
Permanent · Denver
LULULEMON
Assistant Manager, Operations | Bellevue Square
Permanent · Bellevue
LULULEMON
Assistant Manager, Operations (Hyde Park)
Permanent · Chicago
OLD NAVY
Assistant Manager, Customer Operations - Airport Square
Permanent · North Wales
OLD NAVY
Assistant Manager, Customer Operations - Monroe Mktplace
Permanent · Selinsgrove
OLD NAVY
Asset Protection Coordinator - Florida West
Permanent · Estero
OLD NAVY
Assistant General Manager, Merchandising - Jefferson Mall
Permanent · Louisville
OLD NAVY
Assistant General Manager, Merchandising - Willowbrook-Houston
Permanent · Houston
OLD NAVY
Assistant Manager, Customer Operations - Oshkosh
Permanent · Oshkosh
OLD NAVY
General Manager - Ridgewood Court
Permanent · Jackson
OLD NAVY
General Manager - Monroe Marketplace
Permanent · Selinsgrove
OLD NAVY
Asset Protection Coordinator - Portland
Permanent · Beaverton
OLD NAVY
General Manager - Tikahtnu Commons
Permanent · Anchorage
OLD NAVY
General Manager - Watertown
Permanent · Watertown
Published
May 27, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

American Eagle Q1 sales inch forward, profits bleed

Published
May 27, 2022

American Eagle Outfitters (AEO) Inc. announced on Thursday revenues for the first quarter inched forward 2%, as the youth apparel retailer's namesake American Eagle brand and online channel saw steep declines.


By brand, Aerie reigned supreme, with sales increasing 8% during the quarter to $322 million, while American Eagle (AE) sales declined 6% to $686 million - Facebook American Eagle


The Pittsburgh-based company said total revenues for the first quarter ending April 30 increased by $20 million ​to $1.055 billion, compared to $1.035 billion in the first quarter of 2021.

By brand, Aerie reigned supreme, with sales increasing 8% during the quarter to $322 million, while American Eagle (AE) sales declined 6% to $686 million.

By channel, AEO store sales increased 2%, partially offsetting a digital revenue decline of 6%. Compared to pre-pandemic first quarter 2019, store revenue increased 1% and digital revenue increased 48%, said the company.

“The first quarter proved challenging, with demand well below our expectations, pressuring operating profit. Comparisons from an extraordinary spring last year driven by stimulus payments and pent-up customer demand, were compounded by rising inflation, higher gas prices and a stronger than anticipated pivot to other discretionary categories," said Jay Schottenstein, AEO’s executive chairman of the board and chief executive officer.

"Aerie remains on a remarkable trajectory with revenue more than doubling and profit expanding over five-fold versus first quarter 2019. Greater focus in our assortment and real-estate footprint at AE continue to drive efficiencies in the business. We are committed to maintaining and building on these structural improvements and right-setting the business to deliver improved profitability in the second half."

With a mixed sales result, AEO said net income for the quarter plummeted to $31.7 million, from $95.5 million in the prior-year quarter.

"In hindsight, our plans entering the year were too optimistic. We are taking swift measures to adjust our inventory and expense base with a firm goal of entering the second half better aligned with demand trends," added Schottenstein.

​Incorporating shifts in the macro environment, the company said it is lowering its outlook for the year. AEO now expects operating profit to be above $314 million achieved in fiscal 2019, with total revenue up in the low single digits compared to fiscal 2021.

Copyright © 2022 FashionNetwork.com All rights reserved.