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December 6, 2013
09:27 EDTAEOAmerican Eagle says business conditions remain volatile
Says Q3 results "clearly unsatisfactory," "not consistent with objectives". Says business conditions remain volatile, promotional, but says saw sequential sales improvement during the week of Black Friday. Says has also seen a "fairly significant shift" to online shopping with eCommerce sales reaching record volumes on both Thanksgiving and Cyber Monday. Says saw positive consolidated comps over Thanksgiving weekend through Cyber Monday, but adds that sales have been promotionally driven, pressuring margins. Says sees Q4 ending inventory at cost per foot to decline in high single digits against a decline of 8% last year. Expects FY13 inventory to be up in the single digits. The company also expects FY13 Cap-Ex to be approximately $250M. Sees FY13 square footage to increase in the mid-single digits. Says expects to end 2014 with at least 100 licensed stores in over 20 countries. The company said that FY13 was "not the year we planned for. We expect conditions to remain challenging and we are planning accordingly." Says"aggressively" adapting to a fast pace retail environment for FY14. Comments made during the company's Q3 earnings conference call.
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April 11, 2014
13:36 EDTAEOGap falls after experiencing sharp decline in March SSS
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