American Eagle Outfitters Inc

Latest Results (14.08.2024):

Record Revenue

American Eagle Outfitters Inc. reported record first quarter revenue of $1.1 billion for fiscal 2024, marking a 6% increase compared to the same period last year. This growth was driven by strong performance in both store and digital sales, with digital revenue seeing a notable 12% rise.

Operating Profit

The company achieved an operating profit of $78 million in the first quarter of fiscal 2024, significantly exceeding their guidance. This represents a substantial increase from the previous year's GAAP operating income of $23 million and adjusted operating income of $44 million, reflecting a 76% growth in operating income year-over-year.

Brand Performance

Aerie, one of American Eagle Outfitters Inc.'s key brands, achieved an all-time high first quarter revenue of $373 million, with comparable sales up 6%. The American Eagle brand also showed strong performance, with revenue increasing by 8% to $725 million and comparable sales growing by 7%.

Shareholder Returns

In the first quarter of fiscal 2024, American Eagle Outfitters Inc. returned approximately $60 million in cash to shareholders. This included the repurchase of 1.5 million shares for about $35 million and the payment of a quarterly cash dividend of $0.125 per share, totaling approximately $25 million.

Outlook

For fiscal 2024, American Eagle Outfitters Inc. expects operating income to range between $445 million and $465 million, with revenue projected to increase by 2% to 4% compared to last year. For the second quarter, the company anticipates operating income between $95 million and $100 million, reflecting high-single-digit revenue growth.