American Eagle Outfitters reports better-than-expected Q4 earnings and a strong growth strategy.
American Eagle Outfitters (AEO) shares are up after the company reported better-than-expected Q4 earnings and a strong growth strategy. Q4 adjusted earnings per share were 61 cents, beating estimates of 50 cents, while quarterly revenues of $1.679bn exceeded the street view of $1.66bn. Store revenue rose 10%, and total digital revenue increased 19%. Aerie Comp sales increased 13%, and American Eagle's fourth-quarter comp sales rose 6%. The company announced a new three-year strategy to boost profitable growth, aiming for mid-to-high teens annual operating income expansion on 3-5% annual revenue growth, and an approximate 10% operating margin.
March 07, 2024
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