American Eagle Outfitters Inc on Wednesday forecast first-quarter revenue of more than $1 billion as strong demand helped the apparel retailer sell more products of its eponymous and Aerie labels at full price.
American Eagle Outfitters said it expects current-quarter revenue and operating income to surpass last two years’ numbers, betting on high-growth brand Aerie that sells work-from-home favorites lingerie and loungewear.
The fashion retailer has revealed a new long-term growth strategy that aims to transform its Aerie brand into a $2 billion business over the next two to three years, while also reorganizing its brick-and-mortar network.
In her new role at the company, which continued to see a boost in online sales in the second quarter, Foyle will now be responsible for overseeing merchandising, design and marketing for the American Eagle brand.
American Eagle Outfitters posted record Q4 sales of $1.31 billion on Wednesday, as its Aerie lingerie brand continued to experience strong growth. Profits, on the other hand, suffered from higher expenses and markdowns.
The apparel retailer announced a series of new sustainability goals on Thursday, including a pledge to be carbon neutral by 2030, as well as plans for water reduction and increased use of sustainable raw materials.
Continued strong growth at American Eagle Outfitters’ Aerie lingerie brand helped drive the Pittsburgh-based apparel retailer’s record-breaking sales in the second quarter, although shares slipped due to slowing comps.