American Eagle Outfitters Beats Expectations and Raises Sales Forecast Amid Strong Holiday Outlook
American Eagle Outfitters (NYSE: AEO) reported financial results for the third quarter that surpassed Wall Street's expectations. The company achieved record revenue for the period, driven by strong sales in its Aerie brand and positive growth in its core American Eagle line.
The retailer raised its annual comparable sales forecast, citing increased demand for its apparel and accessories. American Eagle attributed the boost in sales to successful marketing efforts, including recent campaigns featuring Sydney Sweeney and Travis Kelce.
Looking ahead to the holiday shopping season, the company expects comparable sales to grow between 8% and 9% in the fourth quarter. The update follows American Eagle's actions to improve merchandising, marketing, and operations, which management says have significantly improved business trends.
The company saw stronger-than-expected sales, helped by effective marketing and higher demand for its products.
Successful marketing campaigns and growth in both its Aerie and American Eagle brands have driven strong sales.
Comparable sales refer to sales at stores that have been open for at least a year, which helps show how existing locations are performing.
The company expects holiday shopping to increase sales even more, projecting 8% to 9% growth in comparable sales during this period.
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