8-K

SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

May 15, 2003 Date of Report (Date of earliest event reported)

AMERICAN EAGLE OUTFITTERS, INC. (Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation)

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 (Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

ITEM 7.	Financial Statements, Pro Forma Financial Information and Exhibits.
	(c) Exhibits
	Exhibit No.	Description
	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.

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 Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
Exhibit 99.1	Press Release dated May 15, 2003

EX-99.1

EXHIBIT 99.1

AMERICAN EAGLE
OUTFITTERS

Reports First Quarter Fully Diluted EPS of $0.09
on Total Sales Increase of 5.0%

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:

• Total sales increased 5.0% to $291.9 million from $277.9 million for the quarter ended May 4, 2002.
• Sales for the first quarter 2003 included $15.8 million from the Bluenotes/Thriftys operation, compared to $17.5 million for the corresponding period last year.
• Comparable store sales for the American Eagle Outfitters stores declined 5.8% for the quarter ended May 3, 2003.
• Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, decreased 6.5% when compared to the corresponding period last year.
• Net income for the quarter decreased to $6.4 million, or $0.09 per share on a diluted basis, from net income of $12.7 million, or $0.17 per share on a diluted basis last year.

* * * *

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.  A replay will be available beginning May 15th at 1:00 p.m. EST through May 31st. To listen to the replay, dial 1-800-642-1687 and reference confirmation code #9672930. An audio replay of the conference call will also be available at www.ae.com until August 14th.

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. CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands)
		(Unaudited)				(Unaudited)
		May 3, 2003		February 1, 2003		May 4, 2002
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. CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share amounts) (Unaudited)
		Three Months Ended
		May 3, 2003		May 4, 2002
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