American Eagle Outfitters has reported financial results for their fourth quarter. The brand has ended January 2021 with operating income up 38% across brands.
“After an unprecedented year, we ended 2020 on a positive note, with fourth quarter adjusted operating income up 38%, driven by strong margins across brands. I’m very proud of the entire organization – our teams executed exceptionally well. We ended the year in a healthy cash position and took bold actions to ensure AEO is well positioned for future success, including steps to right-size and strengthen our store fleet, while also continuing to fuel our robust digital platform,” said Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer.
The following comps were featured in AEO’s press release:
- Aerie revenue increased 25% to $337 million and comparable sales increased 29%.
- Aerie’s operating income increased 17% to $13 million. Adjusted Aerie operating income increased 52% to $48 million.
- Gross profit of $440 million rose 8% from $408 million last year. Gross margin of 34.0% expanded from 31.0% last year.
- Operating income of $4 million compared to $0.5 million last year.
“We entered 2021 with momentum, and as reviewed at our January investor meeting, we see significant opportunity to drive Aerie’s growth and deliver strong profit margins in the coming years. The fourth quarter results reflect progress on our Real Power. Real Growth. plan and provide confidence in our value creation opportunity and multi-year financial targets,” added Schottenstein.
Source: AEO Q4 Report
Photo Credit: Aerie – New Stores
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle® and Aerie® brands. Our purpose is to show the world that there’s REAL power in the optimism of youth. The company operates stores in the United States, Canada, Mexico, and Hong Kong, and ships to 81 countries worldwide through its websites. American Eagle and Aerie merchandise also is available at more than 200 international locations operated by licensees in 28 countries. For more information, please visit www.aeo-inc.com.