American Eagle Outfitters — Dec 4, 2024 release

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 2023, representing growth in the mid-teens. FY24 Quarterly Impact of Retail Calendar 1Q 2Q 3Q 4Q FY24 Revenue Impact +$15M +$55M -$45M -$85M -$60M Webcast and Supplemental Financial Information Management will host a conference call and real time webcast today at 4:30pm Eastern Time. To listen to the call, dial 1-877-407-0789 or int