For the third quarter American Eagle Outfitters’ revenue increased six per cent. Same-store sales climbed five per cent. Inventories increased nine per cent. Weak demand in some clothing categories led to price markdowns.
American Eagle Outfitters is known for stylishly relaxed clothing like jeans and athletic apparel. American Eagle Outfitters plans to accelerate its sustainability improvements and become carbon neutral by 2030. The company is committed to carbon reduction, water reduction and the use of more sustainable raw materials. AEO focuses on youth and its optimism toward the future, so building a better world for generations to come is fundamental to its values and purpose. It pledges to accelerate sustainability improvements across its entire organization, and throughout the supply chain, holding itself accountable through the adoption of science-based targets. As a leading retailer, it is dedicated to working across the industry to create systemic changes in garment manufacturing.
Apparel retailers in the US are suffering from a generally grim environment for brick-and-mortar players for several reasons, including a decline in shopping mall foot traffic. US online retail sales jumped 15 per cent last year from the previous year, while retail sales in stores grew only 3.7 per cent. Also consumers own so much clothing that purchases have dropped.