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AMERICAN EAGLE OUTFITTERS, INC.

(AEO)
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American Eagle Outfitters : CEO expects ‘Roaring 20s'-like boom for malls post-pandemic

04/16/2021 | 03:39pm EDT
American Eagle Outfitters CEO expects 'Roaring 20s'-like boom for malls post-pandemic
April 16, 2021
  • American Eagle Outfitters CEO Jay Schottenstein said he expects mall traffic to rebound and the next decade to be a boon for business as consumers emerge from the coronavirus pandemic with confidence.
  • 'We're very excited, you know, about the future of the mall … and we think that when things get better and the pandemic goes away … we can be looking at the 'Roaring 20s,'' he said in a 'Mad Money' interview.
  • 'The mall is not dead. The mall is still alive,' Schottenstein said.

By: Tyler Clifford | Link to article

American Eagle Outfitters CEO Jay Schottenstein said Thursday that the U.S. shopping mall 'is not dead' and that the decade is shaping up to be a boon for business.

The apparel retailer anticipates extending its double-digit comparable sales growth streak to 27 quarters and retaining its position as a leader in denim, Schottenstein said in a CNBC appearance.

'We're very excited, you know, about the future of the mall,' he said in a conversation with Jim Cramer on 'Mad Money,' 'and we think that when things get better and the pandemic goes away … we can be looking at the 'Roaring 20s'.'

Schottenstein is one of many hopeful figureheads who predict the current decade will mirror the growth of a century ago. Consumer spending, spurred in part by the latest round of stimulus checks, surged nearly 10% in March, the latest positive sign of economic expansion and growing confidence.

'The sales we're doing, like this quarter, … all the stores are comping and we're doing it at a 50% capacity,' Schottenstein said.

The comments come one day after the Pittsburgh-based retailer said business for the fiscal first quarter is exceeding projections, driven by government economic stimulus and pent-up demand, especially for jeans. Shares of American Eagle Outfitters hit new highs, continuing a rally that kicked off in late March.

The company's stock has climbed 29% since March 24.

Disclaimer

American Eagle Outfitters Inc. published this content on 16 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 April 2021 19:38:06 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 4 789 M - -
Net income 2022 388 M - -
Net cash 2022 470 M - -
P/E ratio 2022 17,6x
Yield 2022 1,37%
Capitalization 6 154 M 6 154 M -
EV / Sales 2022 1,19x
EV / Sales 2023 1,05x
Nbr of Employees 21 750
Free-Float 61,7%
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American Eagle Outfitters, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AMERICAN EAGLE OUTFITTERS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 38,14 $
Last Close Price 36,80 $
Spread / Highest target 22,3%
Spread / Average Target 3,65%
Spread / Lowest Target -26,6%
EPS Revisions
Managers and Directors
NameTitle
Jay Schottenstein Executive Chairman & Chief Executive Officer
Michael A. Mathias Chief Financial Officer & Executive Vice President
Michael R. Rempell Chief Operations Officer & Executive VP
Janice E. Page Independent Director
Cary D. McMillan Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN EAGLE OUTFITTERS, INC.80.27%6 154
INDUSTRIA DE DISEÑO TEXTIL, S.A.18.20%116 526
KERING16.94%105 389
FAST RETAILING CO., LTD.-0.39%86 665
ROSS STORES, INC.8.26%47 415
HENNES & MAURITZ AB23.11%42 096