American Eagle Outfitters Inc. (AEO) announced a profit for its fourth quarter that increased from the same period last year
The company's earnings came in at $104.35 million, or $0.54 per share. This compares with $6.32 million, or $0.03 per share, last year.
The company's revenue for the period fell to $1.604 billion from $1.679 billion last year. Total comparable sales increased 3%, following 8% reported comp growth last year.
"2024 demonstrated significant progress on our Powering Profitable Growth Plan. The team delivered strong operating profit growth with positive momentum across our brands and channels as well as disciplined expense management and operating efficiencies," commented Jay Schottenstein, AEO's Executive Chairman of the Board and Chief Executive Officer.
"Entering 2025, the first quarter is off to a slower start than expected, reflecting less robust demand and colder weather. While we anticipate improvement as the Spring season gets underway, we are also taking proactive steps to strengthen the top-line, manage inventory and reduce expenses. As we navigate through an uncertain consumer and operating landscape, we will also remain focused on our long-term strategic priorities," he added.
Looking forward, the company expects first-quarter revenue to decline by mid-single digit, and full-year 2025 revenue to drop low-single digit.
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