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American Eagle Outfitters Inc (AEO) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, January 28, 2023

American Eagle Outfitters Inc

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CIK: 1068837 Ticker: AEO

 

 

Exhibit 99.1

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AEO Reports Fourth Quarter Profit Ahead of Expectations, Demonstrating Continued Profit Improvement. Declared Quarterly Cash Dividend at $0.10 per share.

 

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Achieved second highest fourth quarter revenue in company history
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Adjusted operating profit of $96 million increased to last year and 2019
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Delivered strong free cash flow and declared a quarterly cash dividend of $0.10 per share
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Aerie posted all-time high fourth quarter revenue and operating profit
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American Eagle demonstrated a sequential improvement in revenue trends with operating profit up to 2019

 

March 1, 2023

PITTSBURGH -- (BUSINESS WIRE) – American Eagle Outfitters, Inc. (NYSE: AEO) today announced financial results for the fourth quarter and full year fiscal 2022 ended January 28, 2023.

 

“I am proud of how our teams navigated through unanticipated macro challenges this year, which pressured top line demand as we lapped record strength in 2021. In response, we took aggressive actions early in the year on inventory and spending to strengthen margins and increase free cash flow. We saw meaningful improvements as the year progressed. We ended 2022 in a healthy financial position and I’m pleased to reinstate our quarterly cash dividend,” commented Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer.

 

“Looking ahead, I am encouraged by several positives. Our inventory levels are healthy. The global supply chain has stabilized, restoring agility to our operations with a more normalized cost environment. Our brands are poised to deliver innovation and quality to our customers and to benefit from emerging fashion trends. Yet, our visibility into the macro remains limited and we are taking a cautious view on 2023. We will stay disciplined, maintain sharp control over expenses and seek ongoing efficiencies to drive shareholder returns.”

 

Fourth Quarter 2022 Results:

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Total net revenue of $1.5 billion was down 1% to the fourth quarter of 2021. Our supply chain business, Quiet Platforms, contributed approximately 1 percentage point to revenue growth. Brand revenue declined 2%, exceeding company expectations for a mid-single digit decline.

 

The following information was filed by American Eagle Outfitters Inc (AEO) on Wednesday, March 1, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside American Eagle Outfitters Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accounts Receivable, Net
Accounts Receivable, Net (Detail)
Accounts Receivable, Net (Tables)
Accumulated Balances Of Other Comprehensive Loss (Detail)
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Detail)
Acquisitions - Summary Of Estimated Final Fair Values Of Assets Acquired And Liabilities Assumed At Acquisition Date (Detail)
Business Operations
Business Operations - Additional Information (Detail)
Cash And Cash Equivalents (Tables)
Cash And Cash Equivalents - Fair Market Value Of Cash And Cash Equivalents (Detail)
Cash, Cash Equivalents
Depreciation Expense (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Detail)
Earnings Per Share - Reconciliation Between Basic And Diluted Weighted Average Shares Outstanding (Detail)
Earnings Per Share - Reconciliation Between Basic And Diluted Weighted Average Shares Outstanding (Parenthetical) (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Summary Of Financial Assets Measured At Fair Value On A Recurring Basis (Details) (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Amortization Expense (Detail)
Goodwill And Intangible Assets, Net - Estimated Future Amortization Expense (Detail)
Goodwill And Intangible Assets, Net - Summary Of Goodwill And Definite-Lived Intangible Assets, Net (Detail)
Goodwill And Intangible Assets, Net - Summary Of Goodwill And Definite-Lived Intangible Assets, Net, (Parenthetical) (Detail)
Impairment, Restructuring And Covid-19 Related Charges
Impairment, Restructuring And Covid-19 Related Charges (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Activity Related To Unrecognized Tax Benefits (Detail)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Detail)
Income Taxes - Components Of Income (Loss) Before Income Taxes (Detail)
Income Taxes - Components Of Provision (Benefit) For Income Taxes (Detail)
Income Taxes - Reconciliation Between Statutory Federal Income Tax Rate And Effective Income Tax Rate (Detail)
Leases
Leases (Tables)
Leases - Summary Of Average Remaining Lease Term And Discount Rate (Detail)
Leases - Summary Of Expense Categories And Cash Payments For Operating Leases (Detail)
Leases - Summary Of Maturity Analysis Of Operating Leases (Detail)
Long-Term Debt, Net
Long-Term Debt, Net (Tables)
Long-Term Debt, Net - Additional Information (Detail)
Long-Term Debt, Net - Components Of Long-Term Debt (Detail)
Long-Term Debt, Net - Schedule Of Interest Expense For Notes (Detail)
Long-Term Debt, Net - Schedule Of Notes Conversion Amounts (Detail)
Other Comprehensive Loss
Other Comprehensive Loss (Tables)
Property And Equipment, Net
Property And Equipment, Net (Detail)
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Detail)
Retirement Plan And Employee Stock Purchase Plan
Retirement Plan And Employee Stock Purchase Plan - Additional Information (Detail)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Additional Information (Detail)
Segment Reporting - Summary Of Geographical Information (Detail)
Segment Reporting - Summary Of Reportable Segment Information (Detail)
Segment Reporting - Summary Of Reportable Segment Information (Parenthetical) (Detail)
Share-Based Payments
Share-Based Payments (Tables)
Share-Based Payments - Additional Information (Detail)
Share-Based Payments - Black-Scholes Option Valuation Assumptions (Detail)
Share-Based Payments - Summary Of Restricted Stock Activity (Detail)
Share-Based Payments - Summary Of Stock Option Activity (Detail)
Share-Based Payments - Summary Of Stock Option Activity (Parenthetical) (Detail)
Summary Of Impairment,Restructuring And Covid-19 Related Charges (Detail)
Summary Of Impairment,Restructuring And Covid-19 Related Charges (Parenthetical) (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Sales Return Reserve (Detail)
Summary Of Significant Accounting Policies - Supplemental Cash Flow Information For Cash Amounts (Received) Paid (Detail)
Summary Of Significant Accounting Policies - Useful Lives Of Major Classes Of Assets (Detail)
Summary Of Significant Accounting Policies - Useful Lives Of Major Classes Of Assets (Parenthetical) (Detail)
Ticker: AEO
CIK: 919012
Form Type: 10-K Annual Report
Accession Number: 0000950170-23-007604
Submitted to the SEC: Mon Mar 13 2023 4:49:42 PM EST
Accepted by the SEC: Mon Mar 13 2023
Period: Saturday, January 28, 2023
Industry: Retail Family Clothing Stores

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