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American Eagle Outfitters Inc AEO reported third-quarter FY21 sales growth of 24% year-on-year, to $1.27 billion, beating the analyst consensus of $1.23 billion. Adjusted EPS of $0.76 beat the analyst consensus of $0.61.
- Net revenue from Aerie increased 28% Y/Y, and American Eagle rose 21%.
- Consolidated store revenue increased 29%, and digital revenue rose 10% versus last year. Compared to the pre-pandemic Q2 2019 base, store revenue increased 9%, and digital revenue increased 42%.
- Gross profit increased 36% Y/Y to $565 million, and the gross margin expanded 410 basis points Y/Y to 44.3%.
- The operating margin was 16.5%, and operating income for the quarter was $210 million.
- The company held $740.7 million in cash and equivalents as of October 30, 2021.
- Total consolidated ending inventory at cost increased 32% to $740 million compared to a 13% decline last year. The increase was partially driven by higher air freight due to global supply chain disruptions.
- Price Action: AEO shares are trading higher by 4.55% at $28.71 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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