American Eagle Outfitters Inc announced that total sales for the five weeks ended July 7, 2007 were $270.2 million, an increase of 15% compared to $235.4 million for the five weeks ended July 1, 2006.
Due to the 53rd week in fiscal 2006, June 2007 comps are compared to the five week period ended July 8, 2006. On this basis, comparable store sales increased 8%, compared to an 11% increase for the same period last year.
June sales performance demonstrated the on-going strength of the AE brand and a positive customer response to AE's offering. The company achieved an improvement in the customer conversion rate, driving meaningful increases in transactions and the number of units sold per store. Spring and summer unit sell-through rates were strong and the company is pleased with its inventory position heading into the back-to-school season.
Total sales for the year-to-date 22 week period ended July 7, 2007 increased 17% to $1.082 billion, compared to $926.6 million for the 22 week period ended July 1, 2006. Comparable store sales increased 7% for the year-to-date period.
The company is updating its second quarter earnings guidance to $0.35 to $0.36 per share, compared to $0.31 per share last year. Previous first quarter earnings guidance was $0.34 to $0.36 per share.
American Eagle Outfitters designs, markets and sells its own brand of laidback, current clothing targeting 15 to 25 year-olds, providing high-quality merchandise at affordable prices. AE's original collection includes standards like jeans and graphic Ts as well as essentials like accessories, outerwear, footwear, basics and swimwear.
American Eagle currently operates 840 stores in 50 states, the District of Columbia and Puerto Rico, and 74 AE stores in Canada. American Eagle also operates ae.com, which offers additional sizes and styles of favorite AE merchandise and ships around the world.
American Eagle Outfitters Inc
marketing@alchempro.com
