American Eagle Q4 profit nearly doubles, but warns of weaker sales ahead
Pittsburgh -- American Eagle Outfitters Inc. reported Wednesday that profit for the quarter ended Feb. 2 soared to $94.8 million from $51.3 million in the year-ago period, aided by few markdowns.
However, the retailer warned that sales will be weak in the first quarter due to economic restrictions and unfavorable weather.
Sales in the fourth quarter rose to $1.12 billion from $1.03 billion, and same-store sales rose 4%. For the full year, operating income increased 49% to $437 million, and revenue rose 11% to $3.48 billion, a record high for the company. Same-store sales rose 9%.
American Eagle also authorized a 20 million share repurchase program and raised its quarterly dividend 14%.