Exhibit 99.1
American Eagle Outfitters Reports August Sales Of $307.7 Million
Same Store Sales Decrease 7%
Reiterates third quarter EPS
Pittsburgh - September 3, 2009 -- American Eagle Outfitters, Inc. (NYSE: AEO) today announced that total sales for the four weeks ended August 29, 2009 decreased 4% to $307.7 million, compared to $320.0 million for the four weeks ended August 30, 2008. Comparable store sales decreased 7% for the month, compared to a 5% decrease for the same period last year.
Total sales for the 30 week year-to-date period ended August 29, 2009 decreased 4% to $1.577 billion, compared to $1.649 billion for the 30 weeks ended August 30, 2008. Comparable store sales decreased 10% for the year-to-date period compared to a 7% decline for the same period last year.
The company continues to expect third quarter earnings to be in a range of $0.22 to $0.25 per diluted share, compared to earnings of $0.30 per diluted share last year. This guidance includes a tax benefit of approximately $0.05 per diluted share associated with the repatriation of earnings from Canada. This guidance excludes the possibility of additional impairments or losses related to investment securities.
To access the company's recorded monthly sales commentary, please dial (866) 514-0390, or internationally dial (585) 267-8021.
American Eagle Outfitters, Inc., through its subsidiaries, ("AEO, Inc.")offers high-quality, on-trend clothing, accessories and personal care products at affordable prices. The American Eagle Outfitters brand targets 15 to 25 year old girls and guys, with 954 stores in the U.S. and Canada and online at www.ae.com. aerie by american eagle offers Dormwear and intimates collections for the AE girl, with 133 standalone stores in the U.S. and Canada and online at www.aerie.com. MARTIN + OSA provides clothing and accessories for 28 to 40 year old men and women at its 28 stores and online at www.martinandosa.com. The latest brand, 77kids by american eagle, is available online only at www.77kids.com. 77kids offers "kid cool," durable clothing and accessories for kids ages two to 10. AE.COM, the online home of the brands of AEO, Inc. ships to more than 60 countries worldwide.
"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 third 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 the Company's third quarter earnings expectations may not be achieved and the risks described in the Risk Factor Section of the company's Form 10-K and Form 10-Q filed 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-looking 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 implie d will not be realized.
CONTACT: American Eagle Outfitters, Inc.
Judy Meehan, 412-432-3300
