Categories Consumer, Earnings

Earnings Summary: Highlights of American Eagle Outfitters’ Q1 2023 results

Apparel retailer American Eagle Outfitters (NYSE: AEO) has announced financial results for the first quarter of 2023, reporting a modest increase in adjusted earnings and net sales.

  • First-quarter revenue came in at $1.1 billion, which is up 2% from the same period in 2022; store revenue was up 5%, while digital revenue declined 4%
  • Aerie revenue moved up 12% annually to $359 million in the April quarter; Aerie comparable sales were up 2%
  • American Eagle brand revenues were $671 million during the three-month period, down 2% from last year; comp sales declined 4%
  • First-quarter net income declined sharply to $18.5 million or $0.09 per share from $31.7 million or $0.16 per share in Q1 2022
  • At $0.17 per share, adjusted earnings were slighter higher than the $0.16 per share profit reported last year

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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