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, Pennsylvania — American Eagle Outfitters Inc. beat Wall Street estimates for quarterly same-store sales on Wednesday, helped by growing demand for its jeans and Aerie line of lingerie, sending its shares up more than 7 percent in trading before the bell.
Aerie's focus on comfortable innerwear for women of all body types has strongly resonated with young shoppers who have struggled to find similar products at rival brands, including Victoria Secret's Pink.
A resurgence in 90s fashion trends in the United States has also bolstered sales of its American Eagle brand, whose stretchy and distressed jeans are a big hit with the college crowd.
The company's same-store sales rose 6 percent in the first quarter ended May 4, beating analysts' average estimate of a 3.13 percent increase, according to IBES data from Refinitiv.
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Same-store sales at Aerie rose 14 percent in the quarter.
Net income rose to $40.8 million, or 23 cents per share, from $39.9 million, or 22 cents per share, a year earlier.
Total net revenue rose 7.7 percent to $886.3 million, beating analysts' estimates of $855.6 million.
By Uday Sampath; editor: Anil D'Silva.
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.