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0000919012-09-000006.txt : 20090306
0000919012-09-000006.hdr.sgml : 20090306
20090306094831
ACCESSION NUMBER: 0000919012-09-000006
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 3
CONFORMED PERIOD OF REPORT: 20090305
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20090306
DATE AS OF CHANGE: 20090306
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: AMERICAN EAGLE OUTFITTERS INC
CENTRAL INDEX KEY: 0000919012
STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FAMILY CLOTHING STORES [5651]
IRS NUMBER: 132721761
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0202
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-33338
FILM NUMBER: 09660756
BUSINESS ADDRESS:
STREET 1: 77 HOT METAL STREET
CITY: PITTSBURGH
STATE: PA
ZIP: 15203
BUSINESS PHONE: 4124323300
MAIL ADDRESS:
STREET 1: 77 HOT METAL STREET
CITY: PITTSBURGH
STATE: PA
ZIP: 15203
8-K
1
aeo8kfebsales.htm
FORM 8-K
American Eagle Outfitters, Inc. Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report
(Date of earliest event reported)
March 5,
2009
AMERICAN EAGLE OUTFITTERS, INC.
(Exact name of registrant as specified
in its charter)
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Delaware |
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1-33338 |
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13-2721761 |
(State of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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77 Hot Metal Street
Pittsburgh, Pennsylvania
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15203-2329 |
(Address of principal executive offices) |
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(Zip Code) |
(412) 432-3300
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if
changed since last report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction
A.2. below):
[ ] |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425) |
[ ] |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
[ ] |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b)) |
[ ] |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c)) |
ITEM 2.02. |
Results of Operations and
Financial Condition |
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The information in this Item
2.02 of Form 8-K, including the accompanying exhibits, shall not be deemed to be
"filed" for the purposes of Section 18 of the Securities and Exchange Act of
1934 (the "Exchange Act"), or otherwise subject to the liability of such
section, nor shall such information be deemed incorporated by reference in any
filing under the Securities Act of 1933 or the Exchange Act, regardless of the
general incorporation language of such filing, except as shall be expressly set
forth by specific reference in such filing.
On March 5, 2009, the Company issued a
press release announcing, among other things, the Company's February 2009 sales.
A copy of the press release is attached hereto as Exhibit 99.1. The Company's
Management issued a recorded sales commentary on March 5, 2009 to review the
Company's sales results for the month ended February 28, 2009.
Additionally, Management updated its fourth quarter 2008 earnings guidance in both the press
release and the commentary. A
copy of the sales commentary transcript is attached hereto as Exhibit 99.2.
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ITEM 9.01. |
Financial Statements and Exhibits |
(c) Exhibits |
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Exhibit No. |
Description |
99.1* |
Press release dated March 5, 2009 announcing
February sales |
99.2* |
February sales
commentary transcript dated March 5, 2009 |
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* Such Exhibit is being "furnished" (not filed) pursuant to
Item 2.02 of the Current Report on Form 8-K. |
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.
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AMERICAN EAGLE OUTFITTERS, INC. |
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(Registrant) |
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Date:
March 6, 2009 |
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By: |
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/s/Joan Holstein Hilson
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Joan Holstein Hilson |
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Executive Vice President
and
Chief Financial Officer, AE Brand |
EXHIBIT INDEX
EX-99
2
ex991_febsalesrelease.htm
EXHIBIT 99.1 FEBRUARY SALES RELEASE
Exhibit 99.1
Exhibit 99.1
NEWS RELEASE
American Eagle Outfitters Reports February Sales Of $177.2
Million
Same Store Sales Decrease 7%
Updates Fourth Quarter EPS Guidance
Pittsburgh - March 5, 2009 -- American Eagle Outfitters, Inc. (NYSE: AEO)
today announced that total sales for the four weeks ended February 28, 2009
increased 1% to $177.2 million, compared to $175.1 million for the four weeks
ended March 1, 2008. Comparable store sales decreased 7% for the month, compared
to a 4% decrease for the same period last year.
The company expects fourth quarter earnings to be $0.19 per diluted share,
which excludes a non-cash charge of $0.03 per diluted share related to the
impairment of certain underperforming stores and investment securities. Fourth
quarter results compare to EPS of $0.66 per diluted share last year.
To access the company's recorded monthly sales commentary, please dial (866)
514-0390, or internationally dial (585) 267-8021.
The company will announce fourth quarter earnings on Wednesday, March
11th. Management will host a conference call at 9:00 a.m. Eastern
Time that morning. To listen to the call, please dial 1-877-407-0789 or
internationally dial 1-201-689-8562. The conference call will also be
simultaneously broadcast over the Internet at www.ae.com. Anyone unable to
listen to the call can access a replay beginning March 11, 2009 at 12:00
p.m. Eastern Time. To listen to the replay, dial 1-877-660-6853, or
internationally dial 1-201-612-7415, and reference account 3055 and confirmation
code 311680. An audio replay of the conference call will also be available at http://www.ae.com/.
Non-GAAP Measures
This press release includes information on non-GAAP earnings per share
information. This measure is not based on any standardized methodology
prescribed by U.S. generally accepted accounting principles ("GAAP") and is not
necessarily comparable to similar measures presented by other companies. The
Company believes that this non-GAAP information is useful as an additional means
for investors to evaluate the Company's operating performance, when reviewed in
conjunction with the Company's GAAP financial statements. This amount is not
determined in accordance with GAAP and therefore, should not be used exclusively
in evaluating the Company's business and operations.
AMERICAN EAGLE OUTFITTERS, INC.
GAAP to Non-GAAP reconciliation
(unaudited) |
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13 Weeks Ended |
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January 31, 2009 |
February 2, 2008
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Diluted EPS on a GAAP basis |
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$0.16 |
$0.66 |
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Add back:
Impact of other-than-temporary auction rate security impairment
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0.01 |
- |
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Add back: Impact of store impairment |
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0.02 |
- |
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Non-GAAP Diluted EPS |
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$0.19 |
$0.66 |
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American Eagle Outfitters, Inc., through its subsidiaries, ("AEO, Inc.")
offers high-quality, on-trend clothing, accessories and personal care
products at affordable prices. The American Eagle Outfitters brand targets
15 to 25 year old girls and guys, with 953 stores in the U.S. and Canada and
online at www.ae.com. aerie by american eagle offers Dormwear and
intimates collections for the AE girl, with 116 standalone stores in the U.S.
and Canada and online at www.aerie.com. MARTIN + OSA provides Refined
Casual fashions for 28 to 40 year old men and women at its 28 stores and online
at www.martinandosa.com. The latest brand, 77kids by american eagle, is
available online only at www.77kids.com. 77kids offers "kid cool," durable
clothing and accessories for kids ages two to 10. AE.COM, the online home
of the brands of AEO, Inc. ships to more than 60 countries
worldwide.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: This release contains forward-looking statements, which represent our
expectations or beliefs concerning future events, specifically regarding fourth
quarter earnings. All forward-looking statements made by the company involve
material risks and uncertainties and are subject to change based on factors
beyond the company's control. Such factors include, but are not limited to the
risk that the Company's fourth quarter earnings expectations may not be achieved
and the risks described in the Risk Factor Section of the company's Form 10-K
and Form 10-Q filed with the Securities and Exchange Commission. Accordingly,
the company's future performance and financial results may differ materially
from those expressed or implied in any such forward-looking statements. The
company does not undertake to publicly update or revise its forward-looking
statements even if future changes make it clear that projected results expressed
or implied will not be realized.
CONTACT: American Eagle Outfitters, Inc.
Judy Meehan, 412-432-3300
EX-99
3
ex992_febsalesscript.htm
EXHIBIT 99.2 FEBRUARY SALES SCRIPT
Exhibit 99.2
EXHIBIT 99.2
American Eagle Outfitters, Inc.
February 2009
Recorded Sales
Commentary Transcript dated March 5, 2009
Welcome to the American Eagle Outfitters February 2009 Sales Commentary. This
is Judy Meehan, Vice President of Investor Relations. During this call, I will
make certain forward-looking statements based on our current expectations.
Actual results may be materially different based on risk factors included in our
quarterly and annual reports filed with the SEC.
Total sales for the four weeks ended February 28, 2009 increased 1% to $177.2
million, compared to $175.1 million for the four weeks ended March 1, 2008.
Consolidated comparable store sales decreased 7%, compared to a 4% decline for
the same period last year.
The following discussion relates to the American Eagle brand. February sales
reflected an improvement from recent trends. Customers responded well to new
spring styles and our "all jeans under 30 event" was particularly well-received.
This event was planned to highlight our newly-designed denim line and underscore
strong value in a core destination category. Our conversion rate increased over
last year; traffic remained negative, yet strengthened from prior months. Our
average until retail price was down to last year, reflecting markdowns related
to promotional activity. As a result, February merchandise margin was down to
last year.
AE women's produced a negative low-teen comp, while men's comped in the
positive low single-digits. Jeans in both businesses comped in the positive
double-digits.
Within our aerie brand, we were pleased with the positive customer reaction
to the spring assortment, particularly bra's and undies. Customers responded
well to the breadth of assortment, fashion offerings and to the strong value we
offered.
Our direct sales increased 47% in February, which was also driven by a
positive response to promotions, with higher traffic and conversion.
Our next merchandise assortment arrives in stores the third week of March.
We expect fourth quarter earnings of $0.19 cents per share, excluding an
anticipated non-cash charge of $0.03 cents related to store impairment and
investment securities. This compares to EPS of $0.66 cents last year.
We will announce fourth quarter results next Wednesday, March 11th
before the market opens. To listen to our conference call, please dial
877-407-0789 at approximately 8:50 eastern time.
Thank you for your continued interest in American Eagle
Outfitters.
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