earnings
confidence high
sentiment negative
materiality 0.75
American Eagle Q1 operating income falls 68%; lowers FY outlook
AMERICAN EAGLE OUTFITTERS INC
2022-Q1 EPS reported
$0.16
revenue$1,055,037,000
- Q1 EPS $0.16; gross margin 36.8% vs 42.2%; higher freight cost impacted margin by ~340 bps.
- Revenue $1.055B (+2%); Aerie +8% to $322M, American Eagle -6% to $686M; digital sales -6%.
- Operating income $42M vs $133M; supply chain acquisitions contributed 3pp to revenue but $12M loss.
- Inventory up 46% to $682M; management plans to clear excess spring goods in Q2.
- FY operating profit expected above $314M (fiscal 2019) with low single-digit revenue growth vs FY2021.