2023-11-22 10:54:13
American Eagle closes nine months higher. The American urban fashion group has ended the period (ended in October) with a slight increase in sales and more than doubling its profit compared to the first nine months of 2022, which has led to an improvement in its forecasts for the year complete, as the company has advanced.
The company’s turnover until October stood at 3,582 million dollars, 3% more than in the first nine months of the last fiscal year. The group’s profit, for its part, has risen to $162.7 million, compared to the $70.5 million it earned in the same period of 2022.
For the complete exercise, American Eagle expects its turnover to grow between 4% and 6%, compared to previous forecasts of increasing sales between 1% and 3%. Additionally, the company expects its operating profit to be between $340 million and $350 million (previously between $325 million and $350 million).
For the fourth quarter alone, the American company expects its sales to grow more than 6% and operating profit to be between $105 million and $115 million.
American Eagle expects to close fiscal year 2023 with an increase in sales of between 4% and 6%
During the first nine months, The group’s eponymous brand, American Eagle, has generated sales of 857.3 million dollars, an increase of 2% compared to the same period in 2022, remaining the main firm.
Aeri, for its part, has invoiced 393 million dollars, an increase of 13% compared to the first nine months of the last year. The rest of the brands (Offline by Aerie, Unsubscribed, AE77 and Todd Snyder) have reduced their turnover by 3.5%, to 111.8 million dollars.
The beginnings of American Eagle date back to 1977, when it was founded in the United States by brothers Jerry and Mark Silverman. Currently, the company distributes its products in the United States, Canada, Mexico, Hong Kong and Japan, with a commercial network of close to 2,000 stores.
The American fashion distribution company is led by Jay Schottenstein as CEO, a position he has held since 2014. The company maintains its headquarters in Pittsburgh (Pennsylvania) and employs more than 600 people around the world.
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