US-based teen fashion retailer American Eagle Outfitters has announced its third quarter results. The brand registered an 8 percent growth in comparable sales during the quarter.
The net revenue of the company improved by 5 percent to settle at US $ 1 billion.
Also, sales growth (+32 percent) at the American Eagle’s Aerie brand marched higher even as rival Victoria’s Secret struggles to become accustomed to the changing consumer preferences.
“American Eagle and Aerie had extremely well-executed back-to-school and fall seasons, fuelling strong sales across stores and double-digit growth in digital, on lower promotional activity across channels,” asserted Jay Schottenstein, Chief Executive Officer of the company.
The brand’s net income reached US $ 85.5 million, up from US $ 63.4 million in the year-ago quarter.
Further, Schottenstein said the Holiday Season (which is considered as the most important time for the retailers world over) is off to a great start. Now, American Eagle Outfitters forecast comparable sales in the mid-single digits and revenue in the low-single digits.
