American Eagle Outfitters Inc announced that total sales for the five weeks ended April 7, 2007 were $271.4 million, an increase of 35% compared to $201.6 million for the five week period ended April 1, 2006. Due to the 53rd week in fiscal 2006, March 2007 comps are compared to the five week period ended April 8, 2006. On this basis, the company delivered a comparable store sales increase of 20%, compared to 4% for same period last year.
Strong comparable store sales reflected American Eagle's on-trend spring collection, which was supported by a well-received Spring Break marketing campaign. Sales performance was favorable throughout the month, with a significant acceleration in week five, due to the shift in timing of the pre-Easter week, which occurred in March this year.
Total sales for the year-to-date nine week period ended April 7, 2007 increased 27% to $437.7 million, compared to $344.7 million for the nine week period ended April 1, 2006. Comparable store sales increased 14% for the year-to-date period compared to the same nine week period last year.
Regarding future expectations, due to the Easter shift, the company believes it is appropriate to view March and April as a combined period. As a result, the company expects overall comparable store sales for the nine week March/April period to increase in the low double-digit range.
At this time, the company is raising its first quarter earnings guidance to $0.34 to $0.35 per share, compared to $0.28 per share last year, which would represent 21% to 25% growth over last year. Previous first quarter earnings guidance was $0.31 to $0.33 per share.
American Eagle Outfitters Inc
marketing@alchempro.com
