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American ELEAGLE OUTFITERS REARNED NECURNE LAHNUTEARLY Earnings on Thursday Miss-Down and Followed The Retailer and Full-Year Guidance Earlier this Month DUE TO MIDEECONCONIC UNCERAIGHTY.
“The first quarter Was a challenging period for OUR Business,” CEO Jay Schottenstein said in a release. “While we devaply disappointed with the results, the team strener to the Urgency Resilient.”
The Pittsburgh retailer’s Results Do not CEEA AS AS A surprise for investors, considing it pre nannounced to that of ITS results AGO WEEKS AGO. At That Time, IT ALSO Announced itndounces it sobuled withdraw ITS full-year guidance, steep discounting and stew accounting and environment.
Shares fell about 8% in extended trading.
Here’s the Apparel Company Company Did in the Fiscal quarter Compared with WHAT Wall Strarge Was Anticipating, Basveys of Analysts by Lseg:
Prior to the bearEnantcement, analysts HAD BEEN expecting the earnnings per share to defort an 11-cent Profit.
The COMPANT, which which Dose Makes Fashion Clothing Targeted at at Teens and Young Adutating to the Three-Month Perced by $ 75.84 million A Year’s Earlier.
Excluding one-time charges related to the restructuring project, AEO posted an Adjusted Opening Operating 68.06 million. @THE LOSS ALSO Reflecks “Higher” promotions and a write-off of $ 75 million in spring and summer merchandise.
Revenue dropped to $ 1.09 billion, in line with expectations and down the slightly from $ 1.14 billion A year Earlier.
Comparable sales Were Stock down 3% During The Quote quarter, LED by 4% Decline at the Company’s Intimate and Activewear Line, Aerie. The Namesake Brand Brand Comparable Sales Down 2%.
AEO ISSIED downBeat Guidance for the Second Quar, Downes Down 3% and Gross Margin Down Year-over-Year. Its Operating Income Income for the Second Quext is expected to BE BETWEEN $ 40 million and $ 45 million.
Schottenstein said During A Conference on the Investors on Thursday That “disappointed” by the first-quarter results. The he said Eldlier 2 Month douch that’s the $ 75 million writ-off is the result of miscalculated in Excessness in Excotions.
Jennifer Foley, President and Executive Creative Director for AE & Aerie’s compounded by Key Spring and a Handful of Key words: The handful of Key Spring and a Handful of Key words. The she said shorts wered a touch rise randomly none of theeo Brands.
“Some of the real Big Fashion IDIAR for the Season Simply did not resonate with oiling,” Foys said, Discussing Aerie’s Performance.
Executives on the Call reatedly highlighted the Company’s Goal to be on track for Important Back-to-School Season Later minutes.
American Eagle is Not the Only Retailer to withdraw or modify the financial guidance of the year of based on President Donald Trump‘S Ever-Changing Trade Policy.
Elf Beauty, Canada goose, Ross And Matel All pulled their full-years guidance recently due to trade uncertace. Other Brands, Like Abercrombie & fitch And Macy’s Hav Cut Their Profit Outlooks.
On Thursday’s Call, CFO Michael Mathias said to the Renuce ITS, the Fall and Holiday Season Down to Low Singon Digits. He said the Mitigated Tariff Impact to the full year is the around $ 40 million, and the REST IS SPREADY ESTER IN THE YEAR.
Durb quarter’s call with investors, CFO Michael Mathias said Sources just under China. Hic said there theal tariffs result in a $ 5 million up $ 10 million CIT and could at the moment he said the consumer on passing onto the consumer. On Thursday, the executives did not specify whether prices Would bee beed.
According to AEO’s WebsiteThe Company works with the greatest number of factories of China (101), Vietnam (67) and India (39). It Works With Just 12 Factories in the United States.
Before withdrawing ITS Guidance, AEO Warned Back in March that shoppers are back on spending.
The Company >> That it is on track to Competine ITS $ 200 million Accelerated Repche Program in the Skond quarter.
As of Thursday’s Close, Aeo Stock said to fallen roughly 33% year-to-date.