The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PITTSBURGH, United Staes — American Eagle Outfitters Inc. beat market estimates for fourth-quarter revenue on Wednesday, benefiting from higher demand for the apparel retailer's jeans and Aerie label, which includes intimate wear and activewear.
The company's shares were up 5 percent in after-market trade.
Total net revenue rose to $1.31 billion in the three months ended February 1, from $1.24 billion a year earlier, above the average analysts' estimate of $1.27 billion, according to IBES data from Refinitiv.
Net income fell to $4.8 million, or 3 cents per share, from $76.2 million, or 43 cents per share, a year earlier, as the company took an impairment, restructuring and related charges of about $76 million pre-tax charge.
By Praveen Paramasivam; editor: Shailesh Kuber
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.