EXHIBIT 99.1

AMERICAN EAGLE
OUTFITTERS

Reports Third Quarter Earnings

Warrendale, PA, November 13, 2003 - American Eagle Outfitters, Inc. (NASDAQ: AEOS) today announced its consolidated financial results for the third quarter ended November 1, 2003:

Third Quarter Ended November 1, 2003

• Total sales decreased 0.2% to $373.8 million from $374.5 million for the quarter ended November 2, 2002.
• Sales for the third quarter 2003 included $22.8 million from the Bluenotes/Thriftys operation, compared to $21.7 million for the corresponding period last year.
• Comparable store sales for the American Eagle Outfitters stores declined 10.4% for the quarter ended November 1, 2003.
• Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, declined 10.3% when compared to the corresponding period last year.
• Reported net income for the quarter decreased to $10.1 million, or $0.14 per share on a diluted basis. Reported net income includes a non-cash goodwill impairment charge of $8.0 million, or $0.11 per share on a diluted basis.
• During the quarter ended November 1, 2003, the Company recognized an $8.0 million estimate for a non-cash goodwill impairment charge related to the Bluenotes segment due to continuing poor performance at this division.  The Company has retained a third party to provide an independent valuation and will adjust the estimated impairment charge based on the valuation results in the fourth quarter.
• Adjusted net income* for the quarter, which excludes a non-cash goodwill impairment charge, decreased to $18.1 million, or $0.25 per share on a diluted basis, from net income of $27.1 million, or $0.37 per share on a diluted basis last year.

Year-to-Date for the Nine Months Ended November 1, 2003

• Total sales increased 3.2% to $1.003 billion from $971.6 million for the nine months ended November 2, 2002.
• Sales for the nine months ended November 1, 2003 included $57.9 million from the Bluenotes/Thriftys operation, compared to $58.0 million for the corresponding period last year.
• Comparable store sales for the American Eagle Outfitters stores declined 7.4% when compared to the same nine month period last year.
• Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, declined 7.6% when compared to the corresponding period last year.
• Reported net income for the year-to-date period decreased to $24.6 million, or $0.34 per share on a diluted basis. Reported net income includes a non-cash goodwill impairment charge of $8.0 million, or $0.11 per share on a diluted basis.
• Adjusted net income* for the year-to-date period, which excludes a non-cash goodwill impairment charge, decreased to $32.6 million, or $0.45 per share on a diluted basis from net income of $49.9 million, or $0.68 per share on a diluted basis last year.

The Company stated that November month-to-date comparable store sales have declined in the low single-digits.  Sales trends have improved since October with more seasonable weather, the Company's clearance sale and the holiday floorset.

* A complete definition and discussion of the Company's use of non-GAAP measures, identified by an asterisk (*), is located below.

At 9:00 a.m. EST, on November 13, 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 November 13th at 1:00 p.m. EST through November 27th. To listen to the replay, dial 1-800-642-1687 and reference confirmation code #3119592. An audio replay of the conference call will also be available at www.ae.com until February 23, 2004.

American Eagle Outfitters (NASDAQ:AEOS) is a leading lifestyle retailer that designs, markets, and sells its own brand of casual, fashion-right clothing for 15-25 year olds, providing high-quality merchandise at affordable prices. AE's collection includes modern basics like jeans, surplus, and graphic Ts as well as a stylish assortment of cool accessories, outerwear, footwear and swimwear. 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 736 AE stores in 49 states and the District of Columbia, 64 AE stores in Canada, and 111 Bluenotes/Thriftys stores in Canada. AE also operates via its internet business, ae.com.

Non-GAAP Measure Disclosure

The following definitions are provided for the two non-GAAP (Generally Accepted Accounting Principles) measures used by the Company in this release. The two measures are adjusted net income and adjusted earnings per share. Each use is indicated by an asterisk*. We do not intend for these two non-GAAP measures to be considered in isolation or as a substitute for the related GAAP measures. Other companies may define the measures differently.

Adjusted Financial Results

In this release, adjusted net income and adjusted EPS each exclude the non-cash goodwill impairment charge of $8.0 million, or $0.11 per share, related to our Bluenotes operation. We believe that these adjusted measures provide investors with an important perspective on the current underlying operating performance of our businesses by isolating and excluding the impact of the non-cash impairment charge related to our acquisition of the Bluenotes business in fiscal 2000.

• Adjusted net income: In this release, we define "adjusted net income" to start with GAAP net income and then add back the $8.0 million Bluenotes non-cash goodwill impairment charge. The table below shows a reconciliation between GAAP net income and adjusted net income.
  
• Adjusted EPS: In this release, we define "adjusted EPS" to start with GAAP EPS and then add back the $0.11 per share Bluenotes non-cash goodwill impairment charge. The table below shows a reconciliation between GAAP EPS and adjusted EPS.

Non-GAAP Financial Measures:
Reconciliation of GAAP Net Income and EPS to Adjusted Net Income and EPS
		Three Months Ended				Nine Months Ended
		November 1, 2003		November 2, 2002		November 1, 2003		November 2, 2002
Reported GAAP Net Income	$	10,139	$	27,061	$	24,646	$	49,859
Non-Cash Goodwill Impairment Charge		8,000		-		8,000		-
Adjusted Net Income	$	18,139	$	27,061	$	32,646	$	49,859
Reported GAAP EPS	$	0.14	$	0.37	$	0.34	$	0.68
Non-Cash Goodwill Impairment Charge		0.11		-		0.11		-
Adjusted EPS	$	0.25	$	0.37	$	0.45	$	0.68

AMERICAN EAGLE OUTFITTERS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands)
		(Unaudited)				(Unaudited)
		November 1, 2003		February 1, 2003		November 2, 2002
ASSETS
Cash, cash equivalents and short-term investments	$	206,078	$	241,573	$	172,972
Merchandise inventory		193,796		124,708		181,916
Other current assets		84,740		61,597		65,894
Total current assets		484,614		427,878		420,782
Property and equipment, net		288,230		267,479		270,283
Goodwill, net		15,614		23,614		23,966
Other assets, net		44,905		22,368		26,076
Total Assets	$	833,363	$	741,339	$	741,107
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	$	98,018	$	50,608	$	94,151
Accrued compensation and payroll taxes		18,073		13,001		19,093
Accrued rent		29,079		28,476		26,998
Accrued income and other taxes		17,769		12,655		8,277
Unredeemed stored value cards and gift certificates		13,507		22,837		10,216
Current portion of note payable		4,874		4,225		8,929
Other current liabilities		13,269		9,784		8,400
Total current liabilities		194,589		141,586		176,064
Note Payable		15,213		16,356		16,663
Other non-current liabilities		15,050		5,915		8,837
Total non-current liabilities		30,263		22,271		25,500
Total stockholders' equity		608,511		577,482		539,543
Total Liabilities and Stockholders' Equity	$	833,363	$	741,339	$	741,107
Current Ratio		2.49		3.02		2.39

AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars and shares in thousands, except per share amounts) (Unaudited)
		Three Months Ended				Nine Months Ended
		November 1, 2003		November 2, 2002		November 1, 2003		November 2, 2002
Net sales	$	373,800	$	374,471	$	1,002,713	$	971,587
Cost of sales, including certain buying,
occupancy and warehousing expenses		231,531		228,164		643,267		605,507
Gross profit		142,269		146,307		359,446		366,080
Selling, general and administrative expenses		98,732		89,845		266,414		249,138
Depreciation and amortization		14,373		12,969		41,552		37,414
Goodwill impairment loss		8,000		-		8,000		-
Operating income		21,164		43,493		43,480		79,528
Other income, net		483		284		1,638		1,141
Income before income taxes		21,647		43,777		45,118		80,669
Provision for income taxes		11,508		16,716		20,472		30,810
Net income	$	10,139	$	27,061	$	24,646	$	49,859
Basic income per common share	$	0.14	$	0.38	$	0.35	$	0.69
Diluted income per common share	$	0.14	$	0.37	$	0.34	$	0.68
Weighted average common shares outstanding - basic		71,130		71,559		71,091		71,901
Weighted average common shares outstanding - diluted		72,234		72,405		72,189		73,088

Total gross square footage at end of period:
American Eagle Outfitters Stores	4,157,046	3,743,677
Bluenotes/Thriftys Stores	354,206	352,210

Store count at end of period:
American Eagle Outfitters Stores	798	743
Bluenotes/Thriftys Stores	111	111

Company Contacts:    

Laura Weil
Judy Meehan
724-776-4857