EXHIBIT 99.1
NEWS RELEASE
AMERICAN EAGLE
OUTFITTERS
Reports Record December Sales of $433.2 Million, an Increase of 15.5%
Surpasses $2 Billion YTD Sales Milestone
Same Store Sales Increase 9.8%
Maintaining Fourth Quarter EPS Guidance
Warrendale, PA, January 4, 2006 -- American Eagle Outfitters, Inc. (NASDAQ: AEOS) today announced that total sales for the month ended December 31, 2005 increased 15.5% to a record $433.2 million, compared to $375.0 million for the month ended January 1, 2005. Comparable store sales increased 9.8% for the December period.
Total sales for the year-to-date forty-eight week period ended December 31, 2005 increased 23.1% to $2.181 billion, compared to $1.772 billion for the forty-eight week period ended January 1, 2005. Comparable store sales increased 15.8% for the year-to-date period.
Based on December performance, the Company is reiterating its previously announced fourth quarter earnings guidance of $0.70 to $0.72 per share. Earnings estimates include a tax charge of approximately $0.02 related to the repatriation of foreign earnings. Last year, the Company's fourth quarter earnings were $0.70 per share from continuing operations. To access our recorded monthly sales commentary, please call 800-642-1687, conference code #3282124.
American Eagle Outfitters (NASDAQ: AEOS) is a leading lifestyle retailer that designs, markets, and sells its own brand of relaxed, casual clothing for 15 to 25 year olds, providing high-quality merchandise at affordable prices. AE's collection includes modern basics like jeans, cargo pants, and graphic Ts as well as a stylish assortment of cool accessories, outerwear and footwear. American Eagle Outfitters currently operates 797 AE stores in 50 states, the District of Columbia and Puerto Rico, and 71 AE stores in Canada. AE also operates via its Web business, www.ae.com, which offers additional sizes and styles of favorite AE merchandise. The company plans to open MARTIN + OSA, a new sportswear concept targeting 25 to 40 year old women and men, in the fall of 2006. For additional information and updates, visit www.martinandosa.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which represent our expectations or beliefs concerning future events, specifically regarding fourth quarter earnings. All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors beyond the Company's control. Such factors include, but are not limited to the risk that our spring transition and holiday assortments are not well received, and as a result, our fourth quarter sales, markdowns and/or earnings expectations may not be achieved, and those other risks described in the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of the Company's filings with the Securities and Exchange Commission. Accordingly, the Company's future performance and financial results may differ materially from those expressed or implied in any such forward-lo oking statements. The Company does not undertake to publicly update or revise its forward-looking statements even if future changes make it clear that projected results expressed or implied will not be realized.
| Company Contact: | Financial Media Contact: |
| Judy Meehan | Berns Communications Group |
| 724-776-4857 | Stacy Berns/Melissa Jaffin |
| 212-994-4660 |