Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

American Eagle Posts Smaller Than Expected Loss as Loungewear Demand Surges

The US-based retailer's total revenue fell 15 percent to $883.5 million in the three months ended August 1, beating expectations of $847.8 million.
American Eagle store | Source: Shutterstock
By
  • Reuters

NEW YORK, United States —American Eagle Outfitters Inc. reported a smaller-than-expected quarterly loss on Wednesday, as people working from home due to the Covid-19 pandemic shopped online for comfortable athleisure and lounge apparel from its Aerie label.

The company debuted a new Aerie activewear line in July featuring soft athletic apparel, helping online sales more than double in the second quarter at the brand.

Total revenue fell 15 percent to $883.5 million in the three months ended August 1, but beat expectations of $847.8 million.

Net loss attributable to the company was $13.8 million, or 8 cents per share, compared with a profit of $64.98 million, or 38 cents per share, a year earlier.

ADVERTISEMENT

Excluding one-time items, the company reported a loss of 3 cents per share, smaller than analysts' average estimate of a loss of 16 cents, according to IBES data from Refinitiv.

The company recorded $14.6 million in impairment, restructuring and Covid-19 related charges in the latest quarter.

By Aditi Sebastian; editor: Sriraj Kalluvila

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

Brands Owed Millions After Matchesfashion Collapse

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.


Op-Ed | How Long Can Adidas Surf the ‘Terrace’ Trend?

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.


How Rent the Runway Came Back From the Brink

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.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024