AMERICAN EAGLE REPORTS MAJOR GAINS FOR FIRST QUARTER
American Eagle Outfitters, Inc. has reported EPS of $0.22 for the first quarter ended April 30, 2016, a 47 percent increase from EPS of $0.15 for the comparable quarter last year.
In addition, total net revenue increased 7 percent to $749 million from $700 million last year; consolidated comparable sales increased 6 percent. Operating income increased 40 percent to $59 million from $42 million last year, and gross profit increased 12 percent to $293 million.
“In a tough retail environment, AEO delivered a strong first quarter, driven by compelling merchandise, strategic investments and solid execution across the organization,” said CEO Jay Schottenstein. “We achieved higher sales and profitability following strong growth last year. I’m proud of how the team delivered, and I’m optimistic about our future. We’ve built a strong model for success based on our leading brands, and will remain focused on maximizing our business and delivering profitable growth.”
The company also reported that Kyle Andrew has been appointed EVP, Chief Marketing Officer, effective, June 6. Andrew has previously Kate Spade, Kenneth Cole Marketing, and Gap Marketing.
“I am excited to join the team at AEO at this critical juncture in the retail industry,” said Andrew. “The company and its strong brands have huge potential to assume an even greater role on the global stage, and I look forward with great enthusiasm to making a contribution to the achievement of that objective.”
