American Eagle Reports Q4, Annual Earnings

Pittsburgh American Eagle Outfitters reported Wednesday that net income for its fiscal fourth quarter ended Feb. 2, 2008, was $140.48 million, compared to $150.16 million a year ago.

Total sales for the 13 weeks ended Feb. 2, 2008, increased to $995.4 million compared to $973.4 million for the 14-week period ended Feb. 3, 2007. Excluding sales from the additional week in fiscal 2006, total sales increased 7% for the 13 weeks ended Feb. 2. Total sales for the 52 weeks ended Feb. 2, 2008 increased to $3.055 billion from $2.794 billion for the 53-week period ended Feb. 3, 2007. Excluding sales from the additional week in fiscal 2006, total sales increased 9% for the 52 weeks ended Feb. 2. Based on the extra week difference, comparable-store sales increased 1%.

In fiscal 2007, the company opened 30 AE stores and remodeled 53 locations. Together with 36 new aerie stand-alone stores and 14 MARTIN + OSA stores, total gross square footage increased more than 10% for the year. The company ended the year with a total of 987 stores, including 929 AE stores, 39 aerie stores and 19 MARTIN + OSA stores.

In fiscal 2008, the company plans to open approximately 40 AE stores, 70 aerie stores, 15 MARTIN + OSA stores and remodel 35 to 40 AE stores. This will equate into approximately 10% square footage growth.