American Eagle Outfitters Inc.

NYSE:AEO   3:59:58 PM EDT
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Other Pre-Announcement

AEO Reports Second Quarter 2022 Results. Expanding Actions To Strengthen Financial Performance

Published: 09/07/2022 20:26 GMT
American Eagle Outfitters Inc. (AEO) - Aeo Inc. Reports Second Quarter 2022 Results.
Expanding Actions to Strengthen Financial Performance.
Q2 Revenue $1.2 Billion.
Qtrly Loss per Share $0.24.
Qtrly Adjusted EPS of $0.04.
Qtrly Total Ending Inventory at Cost Increased 36% to $687 Million Compared to $504 Million Last Year.
Capital Expenditures Totaled $69 Million in Q2 and $128 Million Year-to-date.
For Year, Management Now Expects to Spend Approximately $250 Million, Compared to Prior Guidance of $275 Million.
Qtrly Aerie Revenue of $372 Million Rose 11% Versus Q2 2021.
Qtrly Comp Sales Declined 6% Versus Q2 2021.
Assuming Current Trends Continue, Q3 Gross-margin Rate Would Be in Mid-30s and Q4 in Low-30s.
Management Has Expanded Expense Cuts With a Focus on Store Payroll, Corporate Expense, Professional Services and Advertising.
Actions Are Now Expected to Drive $100 Million in Annualized Expense Reductions to Plan, Compared to Prior Target of $60 Million.
Pausing Quarterly Cash Dividend to Provide Additional Financial Flexibility.
Q2 Earnings per Share View $0.13, Revenue View $1.20 Billion -- Refinitiv Ibes Data (analyst estimates).
Q3 Ending Inventory is Projected to Be Up in Mid-single Digits With Q4 Inventory Expected to Be Down Year-on-year.