USA fashion retailer American Eagle Outfitters will focus on the lingerie and intimate wear retail business more.
The company will open 60 to 75 Aerie stores in its current fiscal year, including 35 to 40 standalone stores.
During the quarter ended in February 2019, Aerie’s comparable sales increased by 29 percent.
A 34 percent increase was recorded last year, marking the 17th consecutive quarter of double-digit comparable sales growth.
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To capitalise on the popularity of the Aerie brand, the company will expand its physical presence.
“Aerie is a game-changer by staying at the forefront of body positivity and women’s empowerment. Our new cast of role models are even more inspirational they embrace the Aerie lifestyle and were chosen for their influential voices, unique stories and commitment to increase the power and empowering our community,” said Jennifer Foyle, Global Brand President, Aerie.
In the fourth quarter, American Eagle’s earnings zoomed 1 percent to US $ 431 million.
Total net revenue also increased 1 percent to US $ 1.24 billion in the quarter.
For the full fiscal, American Eagle Outfitters’ total net revenue surged 6 percent to US $ 4 billion.
The fashion company ended the year with a total of 1,055 American Eagle Outfitters stores.
Jay Schottenstein, Chairman & CEO of the company said, “American Eagle Outfitters and Aerie continued to deliver consistent performance by combining product innovation and great merchandise with an improved customer experience across channels. As we head into 2019, we will continue to leverage the strength of our brands, selling channels and the team’s commitment to continually raising the bar for our customers.”
