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current news

American Eagle Closes 10 Aerie Shops in Q1

(Filed Under wholesale Lingerie News). American Eagle Outfitters followed through on an earlier announcement and closed 10 of its aerie lingerie shops during the first quarter ended May 4, 2013, lowering the total to about 140. The firm reiterated its plan to close an additional five to ten aerie stores by the end of the year. In all American Eagle currently operates 1039 apparel stores (and had at the beginning of May an additional 57 international franchise stores).

In the first quarter the firm reported declining profits of $28.0 million on reduced sales of $679.5 million, compared to a profit of $39.7 million on sales of $708.7 million for the same period last year. It noted that sales for “aerie total brand” actually rose by 4% during the quarter, compared to an increase for aerie during the same quarter last year of 22%.

more wholesale Lingerie News >>

Published 07-14-2013 by Nick Monjo

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