US-based lifestyle, clothing and accessories retailer American Eagle Outfitters (AEO) has reported a 35% increase in its total net revenue to $1.19bn in the second quarter of the year.
During the period, the company’s Aerie sub-brand saw its revenue increase by 34% to $336m from the second quarter of last year.
Its American Eagle brand’s revenue rose by 35% to $846m against the second quarter of last year.
Driven by increasing store traffic, the company’s consolidated store revenue grew by 73% from the same period a year earlier.
AEO saw its digital revenue drop by 5% from the second quarter of last year, despite a 9% increase in total online demand.
The company also recorded an operating income of $168m in the quarter, compared to a $12m loss last year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
During the quarter, the company’s earnings per share (EPS) was $0.58 and its adjusted EPS was $0.60.
AEO board executive chairman and CEO Jay Schottenstein said: “It’s extremely gratifying to see significant growth across our business, as we delivered another quarter of record revenue and profitability.
“Results underscore the strength of our brands, outstanding product and a leading customer experience across selling channels.
“We are running our business with a laser focus on profitability through inventory and real-estate optimisation initiatives and investments to enhance our supply chain.
“Led by an expanding customer file, Aerie is achieving consistent, robust multi-year growth and very strong profit flow through.
“American Eagle posted meaningful top-and bottom-line increases, with significant unlock still ahead.
“Our Real Power. Real Growth. plan has been a guiding light for all facets of the business, positioning us to successfully navigate a dynamic macro environment.”
AEO closed the second quarter with total cash and short-term investments of $824m.
The company said it is on track to achieve an operating income of $600m this year.