Pittsburgh’s American Eagle sees rising attire gross sales

By jimadmin On May 31, 2021

Late last week, American Eagle Outfitters Inc., also known as American Eagle, the American lifestyle products, apparel, and accessories retailer headquartered in Pittsburgh, Pennsylvania, reported a nearly 90 percent increase in sales over the first fiscal quarter of 2021 while The Company had also raised the full year sales outlook for its jeans and tops.

In fact, American Eagle is among the top retailers to have benefited the most after a robust reopening of the US economy, massive government incentive, and a sped up vaccination campaign that boosted in-store shopping.

At the same time, American Eagle was quoted late last week as saying that its earnings report for the first quarter exceeded Wall Street’s expectations for both earnings and revenue, largely due to a massive government stimulus amid a robust increase in domestic demand as the Die The company’s gross profit margin rose to 42.2 percent in the most recent quarter, compared to 36.7 percent for the same period in 2019.

That being said, while the company expressed clear optimism about a back to school denim trend after a major overhaul of its fashion styles to cater to the athletic needs of Gen Z teenagers, said American Eagle chief executive officer Jennifer Foyle , the analysts in a conference call after the profit, “High demand drives the pricing power”.

American Eagle Reports First Quarter Revenue Increase And Revenue Forecast

In addition, according to the Pittsburgh-based US retailer’s quarterly report released late last week, American Eagle saw digital revenues increase 57 percent in the first quarter of 2021 from the same point in time a few years earlier. Excluding disposables, the retailer had earnings of 48 cents per share above Wall Street’s expectations of 46 cents a share, data from Refinitiv showed.

American Eagle’s net sales rose as much as 90 percent to $ 1.03 billion, beating analysts’ estimate of $ 1.02 billion, bringing American Eagle stock prices up nearly 10 percent to $ 35.43 last week -Dollars apiece have increased.