American Eagle Outfitters releases 10-Q report

By Bobby Samwell • Friday, August 30 08:00 • Permanent Link

American Eagle Outfitters, Inc. has recently released its 10-Q report, providing a comprehensive overview of its financial condition and operational results. The company operates as a multi-brand specialty retailer, offering a range of products under its American Eagle, Aerie, OFFLINE by Aerie, Todd Snyder New York, and Unsubscribed brands. American Eagle Outfitters sells its products through retail stores, concession-based shops-within-shops, and digital channels.

In ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, the company discusses its key performance indicators, including comparable sales, omni-channel sales performance, gross profit, operating income, and cash flow and liquidity. The report also addresses recent accounting pronouncements and provides an executive overview, segment reporting, and current trends and outlook.

The report highlights the company's profit improvement program, "Powering Profitable Growth," which has contributed to margin expansion and improved operating profit rate. In the second quarter of Fiscal 2024, the company saw significant progress in its strategic priorities, with total revenue increasing by 8%, gross profit increasing by 10%, and operating income increasing by 55% compared to the same period in Fiscal 2023. Diluted earnings per share also increased to $0.39 for the 13 weeks ended August 3, 2024, compared to $0.25 for the 13 weeks ended July 29, 2023.

The 10-Q report provides detailed financial data, including the percentage relationship to total net revenue of line items, store data, and a comparison of the 13 weeks ended August 3, 2024, to the 13 weeks ended July 29, 2023. It also outlines the company's performance in different segments, such as American Eagle and Aerie, and provides insights into factors driving changes in net revenue and gross profit.

As a result of these announcements, the company's shares have moved -4.2% on the market, and are now trading at a price of $20.78. If you want to know more, read the company's complete 10-Q report here.

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