American Eagle Outfitters Inc announced that total sales for the four weeks ended May 5, 2007 were $171.9 million, a decline of 4% compared to $179.2 million for the four week period ended April 29, 2006.
Due to the 53rd week in fiscal 2006, April 2007 comps are compared to the four week period ended May 6, 2006. On this basis, comparable store sales declined 10%, compared to a 19% increase for the same period last year.
The negative sales comparison for April, following a very strong performance in March, was largely due to the shift in Easter timing and generally disappointing traffic trends.
The company noted that its same store sales trends improved as the month progressed and were positive in the last two weeks of April.
Total sales for the first quarter ended May 5, 2007 increased 17% to $612.4 million, compared to $522.4 million for the quarter ended April 29, 2006. Comparable store sales increased 6% for the year-to-date period compared to the same 13 week period last year.
The company is maintaining its first quarter earnings guidance of $0.34 to $0.35 per share, representing growth of 21% to 25% from earnings of $0.28 per share last year.
The company will report its first quarter earnings on Tuesday, May 22nd. Management will hold a conference call at 9:00 a.m. eastern time that morning.
American Eagle Outfitters Inc
marketing@alchempro.com
