Revenue Rise for American Eagle Outfitters
By: Leon Castles
on Wednesday, May 23, 2012
Pittsburgh based retailer, American Eagle Outfitters has made an announcement that their net income for the first quarter of the year 2012 has improved by 40%. The company said that this year they earned $39.7 million or 20 cents per share compared to the $28.3 million or 14 cents a share. The company said that they are delighted to see that their business plans and strategies are working on the positive side. The company also said that their revenues have improved 18% when compared to the performance last year. American Eagle Outfitters revenue this year has reached $719.1 million.
American Eagle Outfitters also said that their store sales were higher this year by 17% while last year the store sales had dropped by 7%. The company also mentioned that the online sales were also up by 22% which indicate that their online advertisements and promotions are bringing them more customers. American Eagle Outfitters CEO, Robert Hanson said that the company is always focused on the improvements that can fortify their core brands and provide better experience to the customers. The company works hard to enjoy profitable growth that also provides consistent returns to the shareholders of the company. American Eagle Outfitters announced that they will be exiting the children’s apparel business 77Kids as they lost $24 million in the business.