American Eagle reports sales increase
PITTSBURGH — (BUSINESS WIRE) — American Eagle Outfitters Inc. said sales for the quarter-to-date period that ended Jan. 8 increased 5 percent. Consolidated comparable store sales, including the online business, increased 5 percent compared to a 13 percent increase for the same period last year. Excluding the online business, comparable store sales increased 1 percent compared to a 12 percent increase last year.
In December, the company repurchased 5 million shares of its common stock for $105 million. The company estimates diluted shares outstanding for the fourth quarter and full year 2012 of approximately 202 million and 201 million, respectively.
“Although the customer and competitive environment was challenging, I’m pleased with our quarter-to-date performance, especially against strong comp gains last year, Robert Hanson, chief executive officer, said. “We are on-track to deliver our earnings expectations, reflecting strengthened merchandise assortments, improved inventory management and controlled promotions. Business has accelerated in the post-Christmas period and we are seeing a good response to our spring transition assortment. Also of note is the strength of our online business, which has increased 24 percent this quarter, further validating our omni-channel opportunity. I’m proud of how our teams are executing and we remain well-positioned to deliver long-term profitable growth.”