American Eagle Outfitters Inc reported quarterly revenue that missed estimates on Thursday as the apparel retailer's online business slowed following vaccinations and the easing of some COVID-19 curbs.
Burgeoning collections, not enough inclusivity, over-reliance on promotions: the US lingerie label has its work cut out to refashion its range and shine again, according to a study by marketing metrics firm Retviews.
The fashion retailer has revealed a new long-term growth strategy that aims to transform its Aerie brand into a $2 billion business over the next two to three years, while also reorganizing its brick-and-mortar network.
In her new role at the company, which continued to see a boost in online sales in the second quarter, Foyle will now be responsible for overseeing merchandising, design and marketing for the American Eagle brand.
American Eagle Outfitters has unveiled Offline by Aerie (actually spelt OFFL/NE), a new sub-brand “offering a complete collection of activewear and accessories built for real movement and real comfort,” it said.
The "slow fashion" womenswear and accessories company will release just two collections annually, priced roughly from $5 to $550, and will feature items from the company's private label, as well as outside labels.
Shares of American Eagle Outfitters Inc dropped 14% on Wednesday after the apparel retailer withdrew its full-year forecast and said current-quarter results would be significantly hit by coronavirus store closures.