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