American Eagle Outfitters (NYSE:AEO) reported upbeat earnings for its fourth quarter, while sales missed estimates. The company issued weak first-quarter earnings guidance.
The retailer, based in Pittsburgh, reported Wednesday that Earnings Per Share totaled $0.43 for the 13 weeks ended February 2, 2019. This compares to $0.52 for the 14 weeks ended February 3, 2018, which included the benefit of an extra week of sales due to the retail calendar.
Adjusted EPS of $0.44 last year excluded $0.08 of tax benefit.
Total net revenue for the 13 weeks ended February 2, 2019 increased $15 million, or 1% to $1.24 billion compared to $1.23 billion for the 14 weeks ended February 3, 2018.
Total revenue was adversely affected by approximately $60 million of lost revenue due to operating one less week in 2018, which is consistent with the retail calendar.
AEO CEO Jay Schottenstein said "Strong execution by the teams drove a record fourth quarter and fiscal 2018, as we reached a milestone of $4 billion in annual revenue with increased operating profit.
"American Eagle and Aerie continued to deliver consistent performance by combining product innovation and great merchandise with an improved customer experience across channels. As we head into 2019, we will continue to leverage the strength of our brands, selling channels and the team’s commitment to continually raising the bar for our customers. I’m extremely proud of our results over the past several years."
Shares of AEO ducked lower by two cents to $21.33
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