American Eagle soars past expectations

Improved, "costumer-focused" merchandising helped American Eagle Outfitters post record net income in the first quarter.

The company posted net profit of $29.1 million, up from $3.9 million a year ago.The retailer posted better-than-expected revenue of $699.5 million for the quarter ended May 2, up 8% from $646.13 million a year ago. Same-store sales rose 7%.

“Our strong first quarter results reflected outstanding merchandise and customer-focused execution,” said Jay Schottenstein, interim CEO. “Both AE and aerie performed well, achieving higher sales and earnings, proving successful in a price promotional retail climate. Across the organization, we are focused on the market opportunity to leverage our competitive strengths in merchandising, new technologies and capabilities to gain further market share and deliver earnings growth.”

American Eagle operates more than 1,000 stores worldwide.