American Eagle says search for new CEO "under way" Says acting CEO says recently added to holdings. Says global expansion "exciting opportunity." Says stabilizing North America business is "job number one." Sees FY14 CapEx $230M. Says new distribution center is scheduled to open this summer. Expects Q1 ending inventory to decrease in the mid-single digits. Says FY13, FY14 "catch-up years." Says FY14 new store openings will be driven by international and factory stores including U.K. launch. Says business has remained highly competitive and sales trends have been choppy so far this year. Says was encouraged by what it saw in the first few weeks of January, sales deteriorated and negative trends continued into Q1. Comments made during the company's Q4 earnings conference call.
American Eagle estimates raised on strong execution, says Susquehanna Susquehanna raised its earnings estimates on American Eagle based on its continued strong product execution and reduced promotional activity, stringent inventory control, and leverage of omni-channel capabilities. Susquehanna reiterated its Positive rating and raised its price target to $21 from $20 on American Eagle shares.