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American Eagle Q4 revenues, same-store sales decline

Pittsburgh – Total net revenue for American Eagle Outfitters, Inc. decreased 2% to $882 million during the fourth quarter of fiscal 2013, compared to $904 million for the same quarter a year earlier. Consolidated same-store sales decreased 7%, compared to a 5% increase for the comparable period in 2012.

The company expects fourth quarter earnings per share (EPS) to be approximately $0.26 per diluted share, on the bottom end of the previous EPS guidance of $0.26 to $0.30 per diluted share. The guidance excludes potential asset impairment and restructuring charges.

“Following a solid Thanksgiving weekend, traffic and sales through Christmas week were on the low end of our expectations and the retail environment was highly promotional, pressuring margins and EPS,” said Robert Hanson, CEO. “Our post-Christmas clearance event is meeting our expectations and we expect to end the year with inventories on plan. We are intensely focused on making fundamental improvements to our business as we adapt to a fast-changing retail landscape.”

The company will release fourth quarter and annual 2013 fiscal results prior to the market’s open on March 11, 2014.

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