— American Eagle Outfitters Inc. (NYSE: AEO) reported its fourth quarter 2019 earnings of $0.37 per share vs. $0.36 per share expected.
— Revenue grew by 6% to $1.31 billion vs. $1.27 billion expected. Consolidated comparable sales rose 2% over the prior year quarter.
— GAAP EPS of $0.03 declined from $0.43 in the fourth quarter of 2018.
— Based on an anticipated comparable sales increase in the low single digits, first quarter 2020 EPS is expected to be approximately $0.20 to $0.22.
— The company incurred impairment, restructuring and related charges of approximately $76 million pre-tax, or $0.34 per share after-tax.
— Approximately $65 million of the pre-tax charges related to the non-cash impairment of 20 stores and the remainder primarily reflected severance and other costs.
— American Eagle ended 2019 with a total of 1,095 stores. During FY19, the company opened 27 AE stores and closed 21, ending the year with 940 AE stores.
— AEO stock rose about 7% during the after-hours trading session.
The retail industry was hit hard by the COVID-19 pandemic. The shelter-in-place orders and store closures impacted several major retailers and department store giants. Macy’s Inc. (NYSE: M) was one
Real estate investment trust companies, which were considered to be the safest for investment, have been shattered since March of this year. Hotels and resorts have been mostly closed with
Like all other businesses, the packaged food industry is going through a highly volatile phase, with the coronavirus bringing a paradigm shift in consumer behavior. While store operators, in general,