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Published
Mar 2, 2017
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American Eagle meets fourth quarter EPS guidance, Aerie leads fiscal year sales growth

Published
Mar 2, 2017

American Eagle reported on Wednesday its fourth quarter and full year 2016 results. The company achieved ended the fourth quarter at the top end of its earnings guidance at $0.39, and its full year earnings were $1.25. Both figures are adjusted earnings and increases of 11% and 24%, respectively, over last year.


AFP

 
Fourth quarter revenue fell 1% to $1.10 billion, but consolidated comparable sales increased slightly, following a 4% increase in the previous year. Gross profit increased to $389 million and the gross margin rate increased 30 basis points to 35.4% of revenue.
 
Revenue for the fiscal year increased 2% to $3.61 billion and consolidated comparable sales increased 3%, led by double-digit sales growth from the Aerie brand. Gross profit increased 5% to $1.37 billion and SG&A expenses increased 2% to $858 million.

American Eagle ended the year with 943 AE stores after opening 2 stores and closing 11 stores in the fourth quarter. In addition, the company had 102 Aerie stores, with 6 locations opening in the fourth quarter and 1 closing, and the company opened 1 Tailgate store and 1 Todd Snyder store.
 
For the first quarter, American Eagle expects comparable store sales to range from flat to a low single digit decline, and earnings per share are expected to range from $0.15 to $0.17.

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