Third Quarter 2021 Highlights:
- Record revenue of $1.27 billion increased 24%
- Operating income of $210 million more than doubled, reaching a new third quarter high
- Strong demand, higher full-priced sales, reduced promotions and controlled costs fueled gross margin expansion to 44.3% and operating margin to 16.5%
- Consolidated store revenue increased 29%. Total digital revenue increased 10%.
- American Eagle net revenue rose 21% and operating income was up 68%
- Aerie net revenue increased 28% and operating income rose 46%
“As strong demand for our merchandise and brands continues, I’m very pleased to report another quarter of record revenue and profit. The work on our Real Power. Real Growth. value creation plan is driving meaningful improvements to our profitability through real estate and inventory optimization; omni-channel and customer focus; and our supply chain initiatives. The power of our brands, operations and talent are clearly evident and we are intensely focused on ensuring these strengths continue to take AEO to new heights,” said Jay Schottenstein, AEO’s Chief Executive Officer.