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 States — American Eagle Outfitters Inc. (AEO) on Wednesday reported fiscal fourth-quarter profit of $54.6 million.
The Pittsburgh-based company said it had profit of 30 cents per share. Earnings, adjusted for asset impairment costs and pretax expenses, were 39 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The teen clothing retailer posted revenue of $1.1 billion in the period, which fell short of Street forecasts. Nine analysts surveyed by Zacks expected $1.11 billion.
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For the year, the company reported profit of $212.4 million, or $1.16 per share. Revenue was reported as $3.61 billion.
For the current quarter ending in May, American Eagle expects its per-share earnings to range from 15 cents to 17 cents.
American Eagle shares have climbed 4.5 percent since the beginning of the year. The stock has risen almost 4 percent in the last 12 months.
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
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.