For the fourth quarter American Eagle Outfitters’ revenue increased by six per cent. Comparable sales decreased three per cent in the quarter compared to a three per cent increase last year. Gross profit decreased five per cent in the quarter compared to the same quarter prior year. Selling, general and administrative expenses decreased slightly.
For the full year, revenue grew seven per cent. American Eagle comparable sales were up slightly compared to a five per cent increase last year. Gross profit in the year increased two per cent. Selling, general and administrative expenses increased five per cent. Operating income decreased from last year.
American Eagle Outfitters is a specialty retailer offering on-trend clothing and personal care products. Though the company faced some challenges in 2019, it made good progress on its strategic growth pillars, posting record revenues. It saw strong customer engagement and positive traffic across brands and channels. American Eagle saw growth in its signature jeans and bottoms categories. Looking ahead, the company is focused on areas of underperformance and strengthening profit margins. Product improvements, inventory management and gaining efficiencies are top priorities. Its healthy brands and strong balance sheet position it well to compete in today’s market.