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Stock Market & Financial Investment News

News Breaks
September 9, 2013
17:15 EDTAEOAmerican Eagle to close distribution center, take $13M-$15M charge
American Eagle disclosed in a regulatory filing that on September 5, the company announced its plans to close its Warrendale, PA distribution center and transfer the operations to its new Hazelton, PA facility. The Hazelton facility is under construction and is expected to open in 2Q14. The transition of store distribution operations from Warrendale to Hazelton is scheduled to begin in early 2015 and is anticipated to be completed by July 2015. In connection with the decision, the company expects to incur after-tax charges of $13M-$15M, which will primarily be incurred in Q3. These charges are comprised of the following after-tax amounts: $2M-$3M of severance and employee related costs; $11M-$12M of non-cash asset impairment charges. The company says the pre-tax cash outflow for severance and employee related costs are estimated to be $4M-$5M to be paid in FY15.
News For AEO From The Last 14 Days
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February 27, 2015
10:12 EDTAEOGap rises after Q4 earnings top forecast, capital return plans announced
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February 24, 2015
12:22 EDTAEOOn The Fly: Analyst Initiation Summary
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10:00 EDTAEOOn The Fly: Analyst Upgrade Summary
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09:28 EDTAEOAmerican Eagle initiated with a Buy at BB&T
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09:10 EDTAEOAmerican Eagle upgraded to Outperform from Market Perform at Telsey Advisory
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08:19 EDTAEOAmerican Eagle identified as favorite name for Spring at BMO Capital
BMO Capital named American Eagle as its favorite apparel retailer for spring, as the firm expects the company to benefit from the 70s Style fashion trend. .

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