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SECURITIES AND EXCHANGE COMMISSION FORM 8-K Pursuant to Section 13 or 15(d) of May 15, 2003 AMERICAN EAGLE OUTFITTERS, INC. Delaware 0-23760 13-2721761 (Commission File Number) (IRS Employer Identification No.) 150 Thorn Hill Drive 15086-7528 Warrendale, Pennsylvania (Zip Code) (Address of principal executive offices) (724) 776-4857 Not Applicable ITEM 7. Financial Statements, Pro Forma
Financial Information and Exhibits.
Description SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMERICAN EAGLE OUTFITTERS, INC. Dated: May 15, 2003 By: /s/ Laura A. Weil Name:
Laura A. Weil
Executive Vice President and EXHIBIT INDEX Exhibit No. Description Exhibit 99.1 Press Release dated May 15, 2003 EXHIBIT 99.1 AMERICAN
EAGLE Reports First Quarter Fully Diluted EPS of $0.09 Warrendale, PA, May 15, 2003 - American Eagle Outfitters, Inc.
(NASDAQ: AEOS) today announced its consolidated financial results for the first
quarter ended May 3, 2003: * * * * At 9:00 a.m. EST, on May 15, 2003, the Company's management
team will host a conference call to review the financial results. To listen to
the call, dial 877-601-0864 at least ten minutes prior to the start of the call.
The conference call will also be simultaneously broadcast over the Internet at www.ae.com.
Washington, DC 20549
CURRENT REPORT
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
(c) Exhibits
Exhibit No.
99.1
Press Release dated May 15, 2003
ITEM 9.
Regulation FD Disclosure.
The following information is intended to be furnished under Item
12, "Results of Operations and Financial Condition" and is being furnished under
Item 9, "Regulation FD Disclosure" pursuant to interim guidance issued by the
Securities and Exchange Commission in Release Nos. 33-8216 and 34-47583. On
May 15, 2003, American Eagle Outfitters, Inc. (the
"Company") issued a press release announcing the Company's financial
results for the first quarter ended May 3, 2003. A copy of this press release is attached hereto as Exhibit
99.1.
Chief Financial Officer
OUTFITTERS
on Total Sales Increase of 5.0%
American Eagle Outfitters is a leading lifestyle retailer that designs, markets and sells its own brand of relaxed, versatile clothing for 16 to 34 year-olds, providing high-quality merchandise at affordable prices. AE's lifestyle collection includes casual basics like khakis, cargos, and jeans; fashion tops like rugbys, polos, and graphic T's; and functional items like swimwear, outerwear, footwear, and accessories. AE's Canadian subsidiary, Bluenotes/Thriftys, targets a slightly younger demographic, offering a more urban/suburban, denim-driven collection for 12 to 22 year-olds. American Eagle Outfitters currently operates 702 AE stores in 48 states and the District of Columbia, 59 AE stores in Canada, and 111 Bluenotes/Thriftys stores in Canada. AE also operates via its Internet business, ae.com.
Company Contacts:
Laura Weil
Judy
Meehan
724-776-4857
AMERICAN EAGLE
OUTFITTERS, INC. |
||||||
(Unaudited) |
(Unaudited) |
|||||
May 3, |
February
1, |
May 4, |
||||
ASSETS |
||||||
Cash and cash equivalents |
$ |
106,955 |
$ |
194,526 |
$ |
120,054 |
Short-term investments |
107,066 |
47,047 |
62,377 | |||
Merchandise inventory |
146,205 |
124,708 |
114,183 | |||
Other current assets |
74,401 |
61,597 |
76,364 | |||
Total current assets |
434,627 |
427,878 |
372,978 | |||
Property and equipment, net |
270,903 |
267,479 |
262,959 | |||
Goodwill, net |
23,614 |
23,614 |
23,966 | |||
Other assets, net |
30,882 |
22,368 |
24,660 | |||
Total Assets |
$ |
760,026 |
$ |
741,339 |
$ |
684,563 |
LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||
Accounts payable |
$ |
60,769 |
$ |
50,608 |
$ |
70,644 |
Accrued compensation and payroll taxes |
14,962 |
13,001 |
19,800 | |||
Accrued rent |
27,291 |
28,476 |
27,570 | |||
Accrued income and other taxes |
18,449 |
12,655 |
883 | |||
Unredeemed stored value cards and gift certificates |
16,195 |
22,837 |
12,021 | |||
Current portion of note payable |
4,528 |
4,225 |
4,112 | |||
Other current liabilities |
9,931 |
9,784 |
9,184 | |||
Total current liabilities |
152,125 |
141,586 |
144,214 | |||
Note Payable |
16,019 |
16,356 |
18,662 | |||
Other non-current liabilities |
5,836 |
5,915 |
4,188 | |||
Total non-current liabilities |
21,855 |
22,271 |
22,850 | |||
Total stockholders' equity |
586,046 |
577,482 |
517,499 | |||
Total Liabilities and Stockholders' Equity |
$ |
760,026 |
$ |
741,339 |
$ |
684,563 |
Current Ratio |
2.86 |
3.02 |
2.59 |
AMERICAN EAGLE
OUTFITTERS, INC. | ||||
Three Months Ended | ||||
May 3, |
May
4, | |||
Net sales |
$ |
291,858 |
$ |
277,893 |
Cost of sales, including certain buying, |
||||
occupancy and warehousing expenses |
185,870 |
167,874 | ||
Gross profit |
105,988 |
110,019 | ||
Selling, general and administrative expenses |
82,856 |
78,139 | ||
Depreciation and amortization |
13,416 |
11,958 | ||
Operating income |
9,716 |
19,922 | ||
Other income, net |
641 |
661 | ||
Income before income taxes |
10,357 |
20,583 | ||
Provision for income taxes |
3,954 |
7,865 | ||
Net income |
$ |
6,403 |
$ |
12,718 |
Basic income per common share |
$ |
0.09 |
$ |
0.18 |
Diluted income per common share |
$ |
0.09 |
$ |
0.17 |
Weighted average common shares outstanding - basic |
71,056 |
72,036 | ||
Weighted average common shares outstanding - diluted |
71,991 |
73,714 |
Total square footage at end of period: |
||||||||
American Eagle Outfitters Stores |
3,883,468 |
3,413,933 | ||||||
Bluenotes/Thriftys Stores |
353,325 |
354,853 |
Store count at end of period: |
||||||||
American Eagle Outfitters Stores |
761 |
689 | ||||||
Bluenotes/Thriftys Stores |
111 |
112 |