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American Eagle Comps Up 21%

WARRENDALE, PA-American Eagle Outfitters posts positive Q2 results, forecasts 21 new stores, and readies to launch a new store concept.

By Dana Dubriwny | Updated on August 17, 2005

WARRENDALE, PA-With continued positive results in its second quarter, American Eagle Outfitters Inc. CEO James O’Donnell during the company’s earnings call Tuesday praised the results of AE’s new flagship stores in Seattle and Manhattan, which have produced a 90% above-average increase in sales.

O’Donnell also noted that newly remodeled stores have exceeded store expectations on a sf basis. During the quarter, the company closed one underperforming store and opened 10 stores. By year-end, the company plans to open another 21 locations for a total of 37 new stores this year. Also in the second quarter, AE remodeled 11 stores, adding to the anticipated total of 46 remodeled stores by the end of 2005.

Emphasizing growth as a key priority to the AE strategy, which targets the 15- to 25-year-old consumer, O’Donnell told investors that the company plans to enhance its branded accessories and intimates categories, while looking into expanding with new stores internationally. Of the most anticipated—and guarded—initiatives is the company’s roll out of a new store concept. Expected by next year, the company says the store will not compete with the American Eagle brand, targeting an untapped demographic for the company.

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