American Eagle Outfitters has released financial results for the second quarter of fiscal 2021. Second Quarter 2021 Highlights:
- Record revenue of $1.19 billion increased 35%
- Operating income reached an all-time second quarter high of $168 million
- Higher full-priced sales, reduced promotions and controlled costs fueled gross margin expansion to 42.1%
- Aerie net revenue increased 34%, operating income rose 132%, reflecting a 21.0% operating margin
- American Eagle net revenue rose 35%, operating income was up 234%, reflecting a 23.5% operating margin
- Consolidated store revenue increased 73% from second quarter 2020 due to an improvement in store traffic.
“It’s extremely gratifying to see significant growth across our business, as we delivered another quarter of record revenue and profitability. Results underscore the strength of our brands, outstanding product and a leading customer experience across selling channels. We are running our business with a laser focus on profitability through inventory and real-estate optimization initiatives and investments to enhance our supply chain. Led by an expanding customer file, Aerie is achieving consistent, robust multi-year growth and very strong profit flow through. American Eagle posted meaningful top-and bottom-line increases with significant unlock still ahead. Our Real Power. Real Growth. plan has been a guiding light for all facets of the business, positioning us to successfully navigate a dynamic macro environment. Despite external challenges, I believe we are on path to achieve $600 million in operating income this year, well ahead of our previous target,” said Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer.
Source: AEO Press Release
Photo Credit: Business Insider
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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 33 countries. For more information, please visit www.aeo-inc.com.
