American Eagle Outfitters achieved ‘record sales’ in December

Raising Fourth Quarter Outlook As a result of this strong performance, the company raised its fourth quarter outlook, projecting an operating profit of approximately $135 million, up from the previous range of $125 million to $130 million.

This outlook is supported by a comparable sales increase of about 2%, building on an 8% growth from the prior year. However, the retail calendar will adversely impact total revenue, which is forecasted to decrease by approximately 5%.

Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer, remarked, “As a top destination for holiday shopping, we achieved record sales in December. We came to market with exciting new product assortments and engaging customer experiences, resulting in growth across brands and selling channels.

We also remain focused on driving operational efficiencies, putting us on track to deliver high-teens operating profit growth in 2024.” Shareholder Returns Throughout the fourth quarter, AEO repurchased 1.5 million shares for $27 million, bringing the year-to-date total to 7.5 million shares for $158 million…