American Eagle Outfitters Inc. on Wednesday set out a new strategy of building inventory in “heritage” categories such as denim to reclaim lost market share as the teen chain reported that it doubled net income against a year-ago quarter that was hurt by losses from discontinued operations.
In the three months ended April 30, the Pittsburgh-based specialty chain registered net income of $28.3 million, or 14 cents a diluted share, compared with profits of $10.9 million, or 5 cents a share, in the year-ago quarter. Excluding extraordinary items, such as the year-ago loss from discontinued operations, income from continuing operations was $14.6 million versus $17.8 million in the year-ago quarter.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)