American Eagle Outfitters, Inc. (NYSE:AEO) reported its third-quarter results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: American Eagle Outfitters reported quarterly earnings of 48 cents per share. Revenue came in at $1.28 billion, down from $1.3 billion from the same period last year.
- Total comparable sales increased 3%, following 5% reported comp growth last year.
- Total net revenue of $1.3 billion declined 1%, including approximately $45 million of adverse impact from the retail calendar shift.
- Aerie comparable sales increased 5% on a 12% increase last year.
- American Eagle comparable sales grew 3% following 2% growth last year.
- Gross profit of $527 million decreased 3%.
- Gross margin of 40.9% compared to 41.8% last year, reflecting increased markdowns and expense deleverage related to the retail calendar shift.
"Building on our positive performance in the first half of the year, third-quarter results provide another proof point of the effectiveness of our Powering Profitable Growth Plan. Led by a strong back-to-school season, we achieved comparable sales growth across brands and channels, and delivered adjusted operating income at the high end of our guidance range," commented Jay Schottenstein, AEO's CEO.
Outlook: American Eagle sees fourth-quarter comparable sales up approximately 1% with total revenue down 4% year-over-year.
AEO Price Action: According to Benzinga Pro, American Eagle Outfitters shares are down 12.76% after-hours at $17.92 at the time of publication Wednesday.
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Photo: Courtesy of American Eagle Outfitters, Inc.
