Categories Consumer, Earnings

Earnings Summary: American Eagle Outfitters reports strong Q3 2023 results

Apparel retailer American Eagle Outfitters (NYSE: AEO) has announced financial results for the third quarter of 2023, reporting an increase in net sales.

  • Third-quarter revenue rose 5% year-over-year to a record high of $1.3 billion, with growth across brands and channels
  • Store revenue and digital revenue increased by 3% and 10% respectively in the October quarter
  • Operating profit came in at $125 million during the three-month period
  • The Aerie brand posted all-time high Q3 revenue and operating margin; Comparable sales were up 12% to last year
  • Earnings per share was $0.49 in Q3, up 17% year-over-year
  • For fiscal 2023, the management now expects revenue to be up mid-single digits year-over-year
  • Operating income is expected to be in the range of $340 to $350 million, which is at the high end of the prior guidance

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