In This Story
American Eagle Outfitters Inc. (AEO-2.95%) has submitted its 10-Q filing for the quarterly period ended November 2, 2024.
The filing reports a decrease in total net revenue to $1.289 billion from $1.301 billion in the same quarter the previous year. This decrease includes an approximately $45 million impact from the shifted retail calendar.
Operating income for the quarter was $106.089 million, down from $125.361 million in the previous year. Adjusted operating income, excluding impairment and restructuring charges, decreased slightly to $123.650 million.
The company reported a net income of $80.019 million for the quarter, compared to $96.700 million in the previous year. Diluted earnings per share were $0.41, compared to $0.49 in the same period last year.
American Eagle's comparable sales increased by 3%, while Aerie's comparable sales increased by 5%.
Digital revenue increased by 6%, while store revenue decreased by 4% compared to the same quarter last year.
Gross profit for the quarter was $526.624 million, a decrease from $543.797 million in the previous year, with a gross margin of 40.9%.
Selling, general, and administrative expenses decreased to $351.380 million from $361.992 million, representing 27.3% of total net revenue.
The company recorded $17.561 million in impairment, restructuring, and other charges, primarily related to corporate restructuring and the pending sale of its Hong Kong retail operations.
American Eagle Outfitters ended the quarter with 1,186 stores, including 845 AE retail stores and 317 Aerie retail stores. The company also operates 19 Todd Snyder locations and five Unsubscribed locations.
Cash and cash equivalents at the end of the period were $160.195 million, with no outstanding borrowings under the company's credit facility.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the American Eagle Outfitters Inc. quarterly 10-Q report dated December 4, 2024. To report an error, please email earnings@qz.com.