\nAmerican Eagle Outfitters, Inc. (NYSE: AEO) today reported GAAP operating income of $4 million for the quarter ended January 30, 2021, compared to $0.5 million for the quarter ended February 1, 2020. Adjusted operating income of $106 million compared to $77 million in last year\u2019s fourth quarter. The adjusted operating income growth to last year primarily reflected gross margin expansion from higher full-priced sales and lower promotions.\n<\/p>\n
\nFourth quarter GAAP EPS of $0.02 compared to $0.03 last year. Adjusted fourth quarter EPS of $0.39 this year compared to $0.37 last year.\n<\/p>\n
\nJay Schottenstein, AEO\u2019s Executive Chairman of the Board and Chief Executive Officer commented, \u201cAfter an unprecedented year, we ended 2020 on a positive note, with fourth quarter adjusted operating income up 38%, driven by strong margins across brands. I\u2019m very proud of the entire organization – our teams executed exceptionally well. We ended the year in a healthy cash position and took bold actions to ensure AEO is well positioned for future success, including steps to right-size and strengthen our store fleet, while also continuing to fuel our robust digital platform.\u201d\n<\/p>\n
\n\u201cWe entered 2021 with momentum, and as reviewed at our January investor meeting, we see significant opportunity to drive Aerie\u2019s growth and deliver strong profit margins in the coming years. The fourth quarter results reflect progress on our Real Power. Real Growth. plan and provide confidence in our value creation opportunity and multi-year financial targets.\u201d\n<\/p>\n
\nAdjusted amounts represent Non-GAAP results, as described in the accompanying GAAP to Non-GAAP reconciliations.\n<\/p>\n
Fourth Quarter 2020 Results<\/b><\/p>\n Impairment, Restructuring and COVID-19 Related Charges <\/b><\/p>\n \nIn the fourth quarter of 2020, the company incurred $103 million in pre-tax impairment and COVID-19 related charges. Approximately $96 million of the pre-tax charges related to the non-cash impairment of 59 stores and the remaining $7 million reflected incremental expenses related to COVID-19 protocols.\n<\/p>\n \nIn the fourth quarter of 2019, the company incurred pre-tax impairment, restructuring and related charges of approximately $76 million. Approximately $65 million of the pre-tax charges related to the non-cash impairment of 20 stores and the remainder primarily reflected severance and other costs.\n<\/p>\n Inventory<\/b><\/p>\n \nTotal ending inventory at cost decreased $41 million or 9% to $405 million. The decline reflected a 21% reduction in American Eagle, due to inventory optimization initiatives and lower clearance levels. Aerie\u2019s inventory increased 10% to support strong demand.\n<\/p>\n Capital Expenditures<\/b><\/p>\n \nIn the fourth quarter of 2020, capital expenditures totaled $35 million. For the full year, capital expenditures were $128 million. For fiscal 2021, the company expects capital expenditures to be in the range of $250 to $275 million, prioritizing strategic customer-facing and supply chain investments.\n<\/p>\n Cash Flow and Balance Sheet <\/b><\/p>\n \nThe company generated $213 million in operating cash flow during the fourth quarter and $202 million for the full year. The company ended the period with total cash and short-term investments of $850 million, an increase from $417 million last year. The quarter-end cash balance included $406 million in proceeds from the April 2020 convertible notes offering.\n<\/p>\n Quarterly Cash Dividend and Share Repurchase Program<\/b><\/p>\n \nGiven its strong balance sheet and liquidity position, AEO\u2019s board of directors has approved reinstating its quarterly cash dividend at $0.1375 per share. The dividend was declared on March 2, 2021 and is payable on March 26, 2021 to stockholders of record at the close of business on March 12, 2021. The company has also unsuspended its share repurchase program.\n<\/p>\n Conference Call and Supplemental Financial Information<\/b><\/p>\n \nToday, management will host a conference call and real time webcast at 4:30 p.m. Eastern Time. To listen to the call, dial 1-877-407-0789 or internationally dial 1-201-689-8563 or go to www.aeo-inc.com<\/a><\/span> to access the webcast and audio replay. Additionally, a financial results presentation is posted on the company\u2019s website.\n<\/p>\n Non-GAAP Measures <\/b><\/p>\n \nThis press release includes information on non-GAAP financial measures (\u201cnon-GAAP\u201d or \u201cadjusted\u201d), including earnings per share information and the consolidated results of operations excluding non-GAAP items. These financial measures are not based on any standardized methodology prescribed by U.S. generally accepted accounting principles (\u201cGAAP\u201d) and are not necessarily comparable to similar measures presented by other companies. Management believes that this non-GAAP information is useful for an alternate presentation of the company\u2019s performance, when reviewed in conjunction with the company\u2019s GAAP financial statements. These amounts are not determined in accordance with GAAP and therefore, should not be used exclusively in evaluating the company\u2019s business and operations.\n<\/p>\n \n* * * *\n<\/p>\n About American Eagle Outfitters, Inc.<\/b><\/p>\n \nAmerican Eagle Outfitters, Inc. (NYSE: AEO) is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle\u00ae and Aerie\u00ae brands. Our purpose is to show the world that there\u2019s REAL power in the optimism of youth. The company operates stores in the United States, Canada, Mexico, and Hong Kong, and ships to 81 countries worldwide through its websites. American Eagle and Aerie merchandise also is available at more than 200 international locations operated by licensees in 28 countries. For more information, please visit www.aeo-inc.com<\/a>.\n<\/p>\n SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 <\/b><\/p>\n \nThis release and related statements by management contain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which represent our expectations or beliefs concerning future events, including our long-term financial outlook. All forward-looking statements made by the company involve material risks and uncertainties and are subject to change based on many important factors, some of which may be beyond the company\u2019s control. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” \u201cpotential,\u201d and similar expressions may identify forward-looking statements. Except as may be required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise and even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. The following factors, in addition to the risks disclosed in Item 1A., Risk Factors, of our Annual Report on Form 10-K for the fiscal year ended February 1, 2020 and in our Quarterly Reports on Form 10-Q for the fiscal quarters ended May 2, 2020, August 1, 2020, and October 31, 2020, and in any other filings that we may make with the Securities and Exchange Commission in some cases have affected, and in the future could affect, the company’s financial performance and could cause actual results to differ materially from those expressed or implied in any of the forward-looking statements included in this release or otherwise made by management: the negative impacts of the COVID-19 pandemic and related operational disruptions; the risk that the company\u2019s operating, financial and capital plans may not be achieved; our inability to anticipate customer demand and changing fashion trends and to manage our inventory commensurately; seasonality of our business; our inability to achieve planned store financial performance; our inability to react to raw material cost, labor and energy cost increases; our inability to gain market share in the face of declining shopping center traffic; our inability to respond to changes in e-commerce and leverage omni-channel demands; our inability to expand internationally; difficulty with our international merchandise sourcing strategies; challenges with information technology systems, including safeguarding against security breaches; and global economic, public health, social, political and financial conditions, and the resulting impact on consumer confidence and consumer spending, as well as other changes in consumer discretionary spending habits, which could have a material adverse effect on our business, results of operations and liquidity.\n<\/p>\n January 30,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n February 1,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n February 2,<\/b><\/p>\n<\/td>\n<\/tr>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2019<\/b><\/p>\n<\/td>\n<\/tr>\n \n850,477\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n361,930\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n333,330\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n55,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n92,135\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n405,445\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n446,278\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n424,404\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n146,102\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n119,064\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n93,477\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n120,619\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n65,658\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 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\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(1,407,414\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(1,407,623\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(1,309,692\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n1,086,665\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,247,853\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,287,555\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n 3,434,806<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3,328,679<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,903,378<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n1.77\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.39\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.93\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n GAAP Basis<\/b><\/p>\n<\/td>\n 13 Weeks Ended<\/b><\/p>\n<\/td>\n January 30,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n % of<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n February 1,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n % of<\/b><\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Revenue<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Revenue<\/b><\/p>\n<\/td>\n \n1,292,294\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n1,314,631\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n852,429\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n66.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n906,884\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n69.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n439,865\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n34.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n407,747\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n292,059\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n22.6\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n286,647\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n21.8\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n102,639\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7.9\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n76,223\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5.8\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n41,583\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3.2\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n44,401\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3.4\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n3,584\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.3\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n476\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n7,993\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.6\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(1,405\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-0.1\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(2,889\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-0.2\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n221\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(1,520\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-0.1\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n1,660\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.1\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(5,056\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-0.4\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(3,104\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-0.3\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n3,536\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.3\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n4,764\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.4\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n0.02\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.03\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.02\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.03\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n166,310\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n167,412\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n196,585\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n168,282\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n GAAP Basis<\/b><\/p>\n<\/td>\n 52 Weeks Ended<\/b><\/p>\n<\/td>\n January 30,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n % of<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n February 1,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n % of<\/b><\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Revenue<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Revenue<\/b><\/p>\n<\/td>\n \n3,759,113\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n4,308,212\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n2,610,966\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n69.5\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n2,785,911\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n64.7\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n1,148,147\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n30.5\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n1,522,301\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n35.3\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n977,264\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26.0\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n1,029,412\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23.9\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n279,826\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7.4\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n80,494\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.9\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n162,402\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4.3\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n179,050\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4.1\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(271,345\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-7.2\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n233,345\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5.4\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n24,610\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.7\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(6,202\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-0.2\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(3,682\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-0.1\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(5,731\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-0.1\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(292,273\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-7.8\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n245,278\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5.7\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(82,999\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-2.2\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n54,021\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.3\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(209,274\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n-5.6\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n191,257\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4.4\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n(1.26\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n1.13\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(1.26\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n1.12\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n166,455\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n169,711\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n166,455\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n170,867\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 13 Weeks Ended<\/b><\/p>\n<\/td>\n<\/tr>\n January 30, 2021<\/b><\/p>\n<\/td>\n<\/tr>\n Operating <\/b><\/p>\n Income<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Interest Expense,<\/b><\/p>\n net<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Diluted Earnings<\/b><\/p>\n per Common<\/b><\/p>\n Share<\/b><\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 3,584<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 7,993<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.02<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 0.3%<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 0.6%<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n102,639\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.36\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(4,209)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.01\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n102,639\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(4,209)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.37\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 106,223<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 3,784<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.39<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 8.2%<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 0.3%<\/i><\/p>\n<\/td>\n 13 Weeks Ended<\/b><\/p>\n<\/td>\n<\/tr>\n February 1, 2020<\/b><\/p>\n<\/td>\n<\/tr>\n Operating<\/b><\/p>\n Income<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Diluted Earnings<\/b><\/p>\n per Common<\/b><\/p>\n Share<\/b><\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 476<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.03<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 0.0%<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n76,223\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.34\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n76,223\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.34\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 76,699<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.37<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 5.8%<\/i><\/p>\n<\/td>\n 13 Weeks Ended<\/b><\/p>\n<\/td>\n<\/tr>\n January 30, 2021<\/b><\/p>\n<\/td>\n<\/tr>\n American Eagle<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Aerie<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Corporate(1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Total(2)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n942,892\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n336,709\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,692\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,292,294\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n91,863\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n13,438\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(101,717\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n3,584\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n9.7%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4.0%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.3%\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n53,560\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n34,634\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n14,445\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n102,639\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n145,423\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n48,072\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(87,272\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n106,223\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n15.4%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n14.3%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8.2%\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n11,245\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,915\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n15,223\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n35,383\n<\/p>\n<\/td>\n<\/tr>\n 13 Weeks Ended<\/b><\/p>\n<\/td>\n<\/tr>\n February 1, 2020<\/b><\/p>\n<\/td>\n<\/tr>\n American Eagle<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Aerie<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Corporate(1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Total(2)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n1,035,097\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n270,007\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n9,527\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,314,631\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n71,260\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n11,467\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(82,251\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n476\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n6.9%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4.2%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.0%\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n41,657\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n20,261\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n14,305\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n76,223\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n112,917\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n31,728\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(67,946\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n76,699\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.9%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11.8%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5.8%\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n25,832\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n13,651\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n20,932\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n60,415\n<\/p>\n<\/td>\n<\/tr>\n Fourth Quarter<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n YTD Fourth Quarter<\/b><\/p>\n<\/td>\n<\/tr>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n \n1,105\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,095\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8\n<\/p>\n<\/td>\n<\/tr>\n \n9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31\n<\/p>\n<\/td>\n<\/tr>\n \n0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(36)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(52)\n<\/p>\n<\/td>\n<\/tr>\n \n(1)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(4)\n<\/p>\n<\/td>\n<\/tr>\n \n(1)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(1)\n<\/p>\n<\/td>\n<\/tr>\n 1,078<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,078<\/b><\/p>\n<\/td>\n<\/tr>\n \n901\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n175\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n179\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8\n<\/p>\n<\/td>\n<\/tr>\n \n6,709\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,709\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n229\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n229\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31\n<\/p>\n<\/td>\n<\/tr>\n \n1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8\n<\/p>\n<\/td>\n<\/tr>\n 10<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 39<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210303005898\/en\/<\/a><\/span><\/p>\n \nOlivia Messina KEYWORDS:<\/b> Pennsylvania United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Teens Women Children Men Specialty Family Fashion Consumer Retail Online Retail<\/p>\n\n
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\n AMERICAN EAGLE OUTFITTERS, INC.<\/b><\/td>\n<\/tr>\n \n CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n<\/tr>\n \n (Dollars in thousands)<\/td>\n<\/tr>\n \n (unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n ASSETS<\/b><\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Cash and cash equivalents<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n Short-term investments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Merchandise inventory<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Accounts receivable<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Prepaid expenses and other<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total current assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Property and equipment, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating lease right-of-use assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Intangible assets, including goodwill<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Non-current deferred income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total Assets<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b><\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Accounts payable<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n Current portion of operating lease liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Accrued income and other taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Accrued compensation and payroll taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Unredeemed gift cards and gift certificates<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other current liabilities and accrued expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total current liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Long-term debt, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Non-current operating lease liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other non-current liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total non-current liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Commitments and contingencies<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Preferred stock<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Common stock<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Contributed capital<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Accumulated other comprehensive loss<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retained earnings<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Treasury stock<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total stockholders’ equity<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total Liabilities and Stockholders’ Equity<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Current Ratio<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n <\/tr>\n \n AMERICAN EAGLE OUTFITTERS, INC.<\/b><\/td>\n<\/tr>\n \n CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/td>\n<\/tr>\n \n (Dollars and shares in thousands, except per share amounts)<\/td>\n<\/tr>\n \n (unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Total net revenue<\/td>\n $<\/td>\n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n <\/tr>\n \n \n Cost of sales, including certain buying,<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n occupancy and warehousing expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Selling, general and administrative expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Impairment, restructuring, and COVID-19 related charges<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Depreciation and amortization expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Operating income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Interest expense (income), net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Other (income) expense, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n (Loss) Income before income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n (Benefit) from income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Net income<\/td>\n $<\/td>\n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Net income per basic share<\/td>\n $<\/td>\n \n \n \n \n \n $<\/td>\n \n \n \n \n <\/tr>\n \n \n Net income per diluted share<\/td>\n $<\/td>\n \n \n \n \n \n $<\/td>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Weighted average common shares<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n outstanding – basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Weighted average common shares<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n outstanding – diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Total net revenue<\/td>\n $<\/td>\n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n <\/tr>\n \n \n Cost of sales, including certain buying,<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n occupancy and warehousing expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Selling, general and administrative expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Impairment, restructuring, and COVID-19 related charges<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Depreciation and amortization<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Operating (loss) income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Interest expense (income), net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Other (income), net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n (Loss) income before income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n (Benefit) provision for income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Net (loss) income<\/td>\n $<\/td>\n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Net (loss) income per basic share<\/td>\n $<\/td>\n \n \n \n \n \n $<\/td>\n \n \n \n \n <\/tr>\n \n \n Net (loss) income per diluted share<\/td>\n $<\/td>\n \n \n \n \n \n $<\/td>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Weighted average common shares<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n outstanding – basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Weighted average common shares<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n outstanding – diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n<\/table>\n \n
\n <\/tr>\n \n AMERICAN EAGLE OUTFITTERS, INC.<\/b><\/td>\n<\/tr>\n \n GAAP TO NON-GAAP RECONCILIATION<\/b><\/td>\n<\/tr>\n \n (Dollars in thousands, except per share amounts)<\/td>\n<\/tr>\n \n (unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n GAAP Basis <\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n % of Revenue<\/i><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Add: Impairment and COVID-19 related charges(1):<\/sup><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Less: Convertible debt(2):<\/sup><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Non-GAAP Basis <\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n % of Revenue<\/i><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (1) $102.6 million pre-tax impairment and COVID-19 related charges:
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0– $95.5 million of long-lived asset impairment charges
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0– $7.1 million of incremental COVID-19 related charges<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (2) Amortization of the non-cash discount on the Company’s convertible notes<\/td>\n<\/tr>\n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n <\/tr>\n \n GAAP TO NON-GAAP RECONCILIATION<\/b><\/td>\n<\/tr>\n \n (Dollars in thousands, except per share amounts)<\/td>\n<\/tr>\n \n (unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n GAAP Basis <\/b><\/td>\n \n \n \n \n \n \n \n \n % of Revenue<\/i><\/td>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Add: Impairment and restructuring charges(1):<\/sup><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Non-GAAP Basis <\/b><\/td>\n \n \n \n \n \n \n \n \n % of Revenue<\/i><\/td>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (1) $76.2 million pre-tax impairment and restructuring charges.
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0– $64.5 million of long-lived asset impairment charges
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0– $1.7 million of goodwill
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0– $10.0 million of restructuring charges including $4.2M of joint business venture exit charges,
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0$4.0M of corporate and field severance, and $1.8M of market transition costs in Japan<\/td>\n<\/tr>\n\n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n <\/tr>\n \n AMERICAN EAGLE OUTFITTERS, INC.<\/b><\/td>\n<\/tr>\n \n RESULTS BY SEGMENT<\/b><\/td>\n<\/tr>\n \n (Dollars in thousands)<\/td>\n<\/tr>\n \n (unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total net revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n % of revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Impairment and incremental COVID-19 related expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted Operating income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n % of revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Capital expenditures<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total net revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating Income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n % of revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Impairment and restructuring charges<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted Operating Income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n % of revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Capital expenditures<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n (1) Corporate includes revenue and operating results of the Todd Snyder brand, which is not material to disclose as a separate reportable segment. Corporate operating costs represents certain costs that are not directly attributable to another reportable segment.<\/td>\n<\/tr>\n \n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n (2) The difference between Total Operating Income (loss) and (Loss) Income before Taxes includes the following, which are not allocated to our reportable segments:
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0– Interest expense (income), net of $8.0 million in Fiscal 2020 and ($1.4) million in Fiscal 2019
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0– Other income (expense), net of $2.9 million in Fiscal 2020 and ($0.2) million in Fiscal 2019<\/td>\n<\/tr>\n\n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n AMERICAN EAGLE OUTFITTERS, INC.<\/b><\/td>\n<\/tr>\n \n STORE INFORMATION<\/b><\/td>\n<\/tr>\n \n (unaudited)<\/td>\n<\/tr>\n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Consolidated stores at beginning of period<\/td>\n \n \n \n \n \n \n Consolidated stores opened during the period<\/td>\n \n \n \n \n \n \n \n AE Brand<\/td>\n \n \n \n \n \n \n \n Aerie stand-alone(3)<\/sup><\/td>\n \n \n \n \n \n \n \n Todd Snyder<\/td>\n \n \n \n \n \n \n Consolidated stores closed during the period<\/td>\n \n \n \n \n \n \n \n AE Brand<\/td>\n \n \n \n \n \n \n \n Aerie stand-alone<\/td>\n \n \n \n \n \n \n \n Todd Snyder<\/td>\n \n \n \n \n \n Total consolidated stores at end of period<\/b><\/td>\n \n \n \n \n \n \n \n AE Brand<\/td>\n \n \n \n \n \n \n \n Aerie stand-alone(3)<\/sup><\/td>\n \n \n \n \n \n \n \n Aerie side-by-side(2)<\/sup><\/td>\n \n \n \n \n \n \n \n Todd Snyder<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Stores remodeled and refurbished during the period<\/td>\n \n \n \n \n \n Total gross square footage at end of period (in ‘000)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n International license locations at end of period (1)<\/sup><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Aerie Openings<\/b><\/td>\n \n \n \n \n \n Aerie stand-alone<\/td>\n \n \n \n \n \n Total Aerie side-by-side stores (2)<\/sup><\/td>\n \n \n \n \n \n Total Aerie Openings<\/b><\/td>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (1) International license locations are not included in the consolidated store data or the total gross square footage calculation.<\/td>\n<\/tr>\n \n (2) Aerie side-by-side and Offline side-by-side stores are included in the AE Brand store count as they are considered part of the AE Brand store to which they are attached.<\/td>\n<\/tr>\n \n (3) Aerie stand alone stores include 4 Offline stores and 1 Unsubscribed store<\/td>\n<\/tr>\n \n \n \n \n \n \n \n <\/tr>\n<\/table>\n <\/p>\n
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