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Aerie: by American Eagle Aerie: by American Eagle Aerie: by American Eagle Aerie: by American Eagle Aerie: by American Eagle
Aerie: by American Eagle

Added: Jun 2010
Aerie: by American Eagle

Added: Jun 2010
Aerie: by American Eagle

Added: Jun 2010
Aerie: by American Eagle

Added: Jun 2010
Aerie: by American Eagle

Added: Jun 2010

current news

Aerie: Operating Income +8.6%, Sales +11.0%

(Filed Under wholesale Lingerie News). Aerie net revenue rose 11.0% for the 13 weeks ended October 29, 2022, while operating income for the lingerie division of American Eagle Outfitters (AEO) rose 8.6%.

Aerie net revenue totaled $349.712 million compared to $315.049 million in the quarter ended October 30, 2021, while operating income rose to $56.487 million for the division, up from $52.021 million in the same quarter last year.

AEO pointed to “a 24% 3-year revenue” compound annual growth rate for Aerie, adding “comp sales declined 3% versus third quarter 2021 and was up 59% to third quarter 2019.”

16 Aerie and Offline (its new active brand) stores were opened in the third quarter, and the number of stand alone and side-by-side locations under those to two brands totaled 292 at the end of the period.

In the conference call to discuss the results, Jen Foyle, president of AE and Aerie, reported “meaningful recovery in profit margins compared to the first half for both, AE and Aerie,” adding “inventory is in much better shape, which enabled us to control promotional levels in a highly competitive environment. In fact, we achieved our second best third quarter AUR [average unit retail price] down just 5% to last year’s record high and up nicely across brands to 2019.”

She noted that for Aerie, “since the third quarter of 2019, revenues have nearly doubled, growing roughly $170 million. Record profits have more than tripled since 2019 and also increased to last year.”

“Aerie crossed two new milestones this quarter, hitting 10 million customers for the first time and achieving an all-time high AUR. Compared to last year, core intimates, fleece and apparel showed up well. I continue to be extremely pleased with our -- with the expansion of Offline where new stores are performing very well. Aerie’s cult like following in leggings is driving momentum and has given us the ability to expand into adjacent categories like sports bras and active tops. All are seeing great results. We expanded our winning Real Me leggings franchise, introducing a new holdup technology to our waistband. We incorporate this fabrication into our sports bras and have seen amazing results for matching sets, which are big trends.”

During the call, CFO Mike Mathias indicated “Aerie achieved an operating margin of 16.2%, marking a solid recovery back into the double digits.” He also revealed that while 85 new Aerie and Offline stores were opened over the past year, “we’re only contemplating opening maybe 30 locations next year.”

President Foyle addressed “a lot of commentary about slowdown on casual wear,” bragging “we’re definitely not seeing it in Aerie. Look, we have this Offline brand that is really it’s amazing. The early-on results here for a business that we launched during COVID, I’ve never seen anything like it, to be perfectly honest.”

American Eagle as a whole, which sells a variety of apparel including denim and sportswear for men and women, reported net income in the quarter of $81.272 million on sales of $1,241 billion, compared to a profit of $152.224 million on sales of $1.274 billion in the three months ended October 30, 2021. ­— NM

The full conference call can be found here:

more wholesale Lingerie News >>

Published 11-23-2022 by Nick Monjo

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