AMERICAN EAGLE NET UP 49. 2% IN 4TH QUARTER
NEW YORK — Fourth-quarter profits at American Eagle Outfitters soared 49.2 percent, to $37.1 million, or 76 cents a share, from $24.9 million, or 52 cents, exceeding Wall Street’s consensus estimate by 7 cents.
Sales ran up 33.9 percent to $285.4 million, with same-store sales ahead 14.4 percent.
“Our fourth-quarter financial results marked the 11th consecutive quarter of record-breaking sales and earnings,” said George Kolber, vice chairman and chief operating officer, in a statement.
“We are enthusiastic about our growth prospects for this year, which include opening 90 new stores.”
The 469-unit chain also said February same-store sales gained 8 percent.
In the year, profits rose 67.5 percent to $90.7 million, or $1.86 a share, as sales gained 41.6 percent to $832.1 million and comps rose 20.9 percent.