American Eagle Outfitters — Dec 4, 2024 release

  Capital Expenditures Capital expenditures totaled $61 million in the third quarter and $158 million year-to-date. For fiscal 2024, management expects capital expenditures in the range of $225 to $245 million.       Restructuring and Impairment Charges In the third quarter, the company recorded an $18 million impairment and restructuring charge, of which $6 million was non-cash. As part of its ongoing profit improvement initiatives, the company took additional actions to streamline its corporate cost structure. The company also changed its Hong Kong retail operation from company-owned to a licensed model.   Outlook Fourth quarter comparable sales are expected to be up approximately 1%, with total revenue down 4% including a roughly $85 million impact from the combination of the retail calendar shift and one less selling week, as previously discussed. Operating income is expected to be in the range of $125 to $130 million. This incorporates currency pressure from the recent strengthening in the U.S. dollar, in addition to a $20 million drag from the retail calendar shift. SG&A is expected to leverage reflecting the company’s continued focus on driving efficiencies across key focus areas.   For the year, this implies comparable sales growth of approximately 3%, with total revenue up 1%, including the impact of one less selling week. Adjusted operating income is expected to be in the range of $428 to $433 million compared to adjusted operating income of $375 million in 2