American Eagle Outfitters Inc announced that total sales for the four weeks ended August 4, 2007 were $233.9 million, an increase of 19% compared to $197.4 million for the four weeks ended July 29, 2006.
Due to the 53rd week in fiscal 2006, July 2007 comps are compared to the four week period ended August 5, 2006. On this basis, comparable store sales decreased 6%, compared to a 7% increase for the same period last year.
July's comp store sales performance reflected an anticipated decline in store traffic. This was largely due to later back-to-school starts across the country, as well as Florida and Texas moving tax free events from July to fiscal August. The company notes that customers are responding well to the back-to-school collection.
Total sales for the second quarter ended August 4, 2007 increased 17% to $703.2 million, compared to $602.3 million for the quarter ended July 29, 2006. Comparable store sales increased 2% for the quarter, compared to the same 13 week period last year.
Total sales for the year-to-date 26 week period ended August 4, 2007 increased 17% to $1.316 billion, compared to $1.125 billion for the 26 week period ended July 29, 2006. Comparable store sales increased 4% for the year-to-date period.
The company is reiterating its second quarter earnings guidance of $0.35 to $0.36 per share, compared to $0.31 per share last year.
The company will report second quarter earnings on Tuesday, August21st. Management will hold a conference call at 9:00 a.m. Eastern Time that morning.
American Eagle Outfitters Inc
marketing@alchempro.com
