Earnings per share for the three months ended October 29, 2016, at apparel retailer American Eagle Outfitters surged 17 per cent at $0.41 as against earnings per share from continuing operations of $0.35 in the prior fiscal's third quarter. Net revenue in the third quarter of fiscal 2017 rose 2 per cent from a fiscal ago quarter to $941 million.
Gross profit in the reporting quarter increased 3 per cent to $378 million compared to $368 million in the third quarter of fiscal 2016, while gross margin as a percentage of sales rose 20 basis points to 40.2 per cent.Earnings per share for the three months ended October 29, 2016, at apparel retailer American Eagle Outfitters surged 17 per cent at $0.41 as against earnings per share from continuing operations of $0.35 in the prior fiscal's third quarter. Net revenue in the third quarter of fiscal 2017 rose 2 per cent from a fiscal ago quarter to $941 million.
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According to the company, the increase in gross margin was the result of an improved IMU, partially offset by a slight increase in markdowns.
SG&A in the quarter under review was down marginally to $220 million and expanded 60 basis points as a percentage of sales to 23.4 per cent.
In the reporting period, operating income increased 8 per cent year over year to $118 million, while operating margin increased 70 basis points as a percentage of revenue to 12.6 per cent. (AR)
ALCHEMPro News Desk – India
marketing@alchempro.com
