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American Eagle Outfitters sales slip as Aerie underwear heads upward

Cons. Discr. - Apparel 419 Cons. Discr. - Retailing 375 Earnings 587 Quote Watch 354 U.S. 4944

Clothing retailer American Eagle Outfitters expects its Q4’20 revenues to fall by a “low single digit” percentage due to “weak mall traffic, store closures and reduced hours related to the pandemic”. The firm expects to grow its Aerie underwear brand but will nonetheless close 50 of its 880 American Eagle branded stores this year. U.S. seaborne imports linked to the firm fell by 16.2% year over year in Q4’20, perhaps indicating inventory management as well as reduced sales. The bright spot was Aerie with underwear imports linked to the firm up 74-fold year over year against the backdrop ...

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