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
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.
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.