EXHIBIT 99.1

American Eagle Outfitters
Reports Third Quarter 2010 Results
Stronger Sales and Margin Contribute to Improvement

Pittsburgh — November 18, 2010 — American Eagle Outfitters, Inc. (NYSE:AEO) today announced income from continuing operations for the third quarter ended October 30, 2010 of $0.17 per diluted share, compared to $0.32 per diluted share last year. Adjusted income from continuing operations for the third quarter ended October 30, 2010 was $0.29 per diluted share, which excludes a realized loss from the sale of investment securities of $0.12 per diluted share. This compares to adjusted earnings from continuing operations for the third quarter 2009 of $0.25 per diluted share, which excludes a tax benefit of $0.07 per diluted share associated with the repatriation of earnings from Canada as outlined in the table that follows.

Jim O’Donnell, chief executive officer, commented, “Our third quarter results reflect meaningful progress toward our goals and demonstrate the positive impact of recent initiatives. We achieved sales growth with less reliance on promotional activity. Our operating income improvement stemmed from stronger merchandising, well positioned inventories and expense management. Looking ahead, I am confident that we can achieve further recovery in operating profits over the course of the next 12 to 18 months.”

Third Quarter Results — Continuing Operations

Total sales for the third quarter ended October 30, 2010 increased to $752 million, compared to $736 million last year. Comparable store sales increased 1%.

Gross profit increased 3% to $312 million, or 41.6% as a rate to sales, compared to $304 million or 41.3% last year. The merchandise margin increased 90 basis points due to less promotional activity and stronger sales performance during the peak back-to-school selling period. As a rate to sales, buying, occupancy and warehousing costs increased 60 basis points primarily due the timing of new store openings, which included our new flagship store in the SoHo district of Manhattan.

Selling, general and administrative expense for the third quarter ended October 30, 2010 was approximately flat to last year at $185 million. Third quarter 2010 SG&A expense includes approximately $2.5 million of severance and related charges. Excluding these charges, current year SG&A expense was down slightly to last year and reflects the company’s continued focus on expense reductions. As a rate to sales, SG&A decreased 50 basis points to 24.6% from 25.1% last year.

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Operating income was $91 million, compared to $85 million last year. The 2010 third quarter operating margin was 12.2%, compared to 11.5% last year.

MARTIN+OSA Update — Discontinued Operations

The loss from discontinued operations for each period presented includes the operating results and closure charges for MARTIN+OSA.

The total year-to-date, pre-tax closure charges were $43 million, which were primarily recorded in the first half of fiscal 2010. Included in the year-to-date, pre-tax charges are lease-related items of $15 million, severance and other employee-related charges of $8 million, inventory charges of $2 million and a non-cash asset impairment charge of $18 million. The company has completed the closure of MARTIN+OSA and expects no further charges to be incurred.

AEO Direct

The company’s direct business includes ae.com, aerie.com and 77kids.com. In the third quarter, sales decreased 2%. This compares to a 9% sales increase last year driven by increased traffic and higher conversion due to promotional activity. Decreased promotional activity in the third quarter of 2010 resulted in higher margins and profitability for AEO Direct as compared to the prior year.

Inventory

Total merchandise inventory at the end of the third quarter was down 4% to $410 million compared to $425 million last year. Third quarter ending inventory per foot decreased 2%, with clearance inventory down at the end of the quarter.

Looking forward, fourth quarter average weekly inventory per square foot is planned down in the high single-digits.

Capital Expenditures

For the third quarter, capital expenditures were $26 million compared to $33 million last year. The company now expects total 2010 capital expenditures to be in the range of $90 million to $100 million. Of this amount, approximately half relates to investments in our store fleet.

Real Estate

In the third quarter, the company opened five AE, three aerie and two 77kids stores. In addition, the company remodeled six AE stores and one aerie store. Store closings in the third quarter included four AE stores. For additional year-to-date and fiscal 2010 information, please refer to the accompanying real estate table.

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Cash and Cash Equivalents, Short-term Investments and Long-term Investments

The company ended the third quarter with total cash and cash equivalents of $631 million, as well as $9 million of investments in auction rate securities with a weighted average maturity of less than two years.

During the third quarter, the company liquidated 95% of its investment portfolio for cash proceeds of $150 million and a realized loss of $24 million, or $0.12 per diluted share. The company’s investment portfolio was originally purchased as highly liquid short-term instruments; however, due to the deterioration of the ARS market, the company’s ARS investment portfolio was subsequently classified as long-term, with a weighted average contractual maturity of approximately 26 years. This liquidation allowed the company to convert substantially its entire investment portfolio to short-term liquid assets.

Fourth Quarter Guidance

Due to the importance of Thanksgiving weekend, the company will provide fourth quarter earnings guidance on Thursday, December 2, 2010 along with its November sales announcement.

Discontinuation of Monthly Sales Reporting

Beginning in fiscal 2011, the company will discontinue monthly sales reporting. Sales and earnings will be reported together in the quarterly earnings announcement.

Conference Call Information

At 10:00 a.m. Eastern Time on November 18, 2010, the company’s management team will host a conference call to review the financial results. To listen to the call, dial 1-877-407-0789 or internationally dial 1-201-689-8562 five to seven minutes prior to the scheduled start time. 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 November 18, 2010 at 1:00 p.m. Eastern Time through December 9, 2010. To listen to the replay, dial 1-877-660-6853, or internationally dial 1-201-612-7415, and reference account 3055 and confirmation code 348837. An audio replay of the conference call will also be available at www.ae.com.

Non-GAAP Measures

This press release includes information on non-GAAP earnings per diluted share (“non-GAAP” or “adjusted”). 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.

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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 937 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 147 standalone stores in the U.S. and Canada and online at www.aerie.com. The latest brand, 77kids^® by american eagle^®, is available online at www.77kids.com, as well as at seven stores across the nation. The 77kids brand 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 76 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 results. 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 operating, financial and capital plans 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

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AMERICAN EAGLE OUTFITTERS, INC.
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)

	October 30,			January 30,			October 31,
	2010			2010			2009
	(unaudited)						(unaudited)
ASSETS
Cash and cash equivalents	$	630,775		$	693,960		$	512,603
Short-term investments		3,700			4,675			3,300
Merchandise inventory		409,509			326,454			425,415
Accounts receivable		40,346			34,746			46,584
Prepaid expenses and other		52,757			47,039			52,188
Deferred income taxes		50,910			60,156			54,362
Total current assets		1,187,997			1,167,030			1,094,452
Property and equipment, net		652,361			713,142			741,019
Goodwill		11,395			11,210			11,165
Long-term investments		5,915			197,773			203,152
Non-current deferred income taxes		27,475			27,305			22,719
Other assets, net		23,981			21,688			23,401
Total Assets	$	1,909,124		$	2,138,148		$	2,095,908
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	$	196,504		$	158,526		$	198,978
Notes payable		—			30,000			50,000
Accrued compensation and payroll taxes		30,289			55,144			23,932
Accrued rent		71,133			68,866			67,983
Accrued income and other taxes		11,620			20,585			22,574
Unredeemed gift cards and gift certificates		20,266			39,389			19,632
Current portion of deferred lease credits		16,465			17,388			17,605
Other current liabilities and accrued expenses		21,285			19,057			20,293
Total current liabilities		367,562			408,955			420,997
Deferred lease credits		81,730			89,591			93,607
Non-current accrued income taxes		36,302			38,618			36,265
Other non-current liabilities		22,246			22,467			21,734
Total non-current liabilities		140,278			150,676			151,606
Commitments and contingencies		—			—			—
Preferred stock		—			—			—
Common stock		2,496			2,486			2,486
Contributed capital		543,265			554,399			538,007
Accumulated other comprehensive income		26,751			16,838			16,478
Retained earnings		1,745,912			1,764,049			1,726,531
Treasury stock		(917,140	)		(759,255	)		(760,197	)
Total stockholders’ equity		1,401,284			1,578,517			1,523,305
Total Liabilities and Stockholders’ Equity	$	1,909,124		$	2,138,148		$	2,095,908
Current Ratio		3.23			2.85			2.60

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AMERICAN EAGLE OUTFITTERS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars and shares in thousands, except per share amounts)
(unaudited)

	13 Weeks Ended
	October 30,			% of			October 31,			% of
	2010			Sales			2009			Sales
Net sales	$	751,507			100.0	%	$	736,011			100.0	%
Cost of sales, including certain buying, occupancy and warehousing expenses		439,198			58.4	%		431,836			58.7	%
Gross profit		312,309			41.6	%		304,175			41.3	%
Selling, general and administrative expenses		185,050			24.6	%		184,948			25.1	%
Depreciation and amortization		35,804			4.8	%		34,653			4.7	%
Operating income		91,455			12.2	%		84,574			11.5	%
Other income (expense)		1,986			0.2	%		(451	)		-0.1	%
Realized loss on sale of investment securities		(24,201	)		-3.2	%		—			0.0	%
Income before income taxes		69,240			9.2	%		84,123			11.4	%
Provision for income taxes		36,049			4.8	%		16,175			2.2	%
Income from continuing operations		33,191			4.4	%		67,948			9.2	%
Loss from discontinued operations, net of tax		(167	)		0.0	%		(8,789	)		-1.2	%
Net income	$	33,024			4.4	%	$	59,159			8.0	%
Basic income per common share:
Income from continuing operations	$	0.17					$	0.33
Loss from discontinued operations		0.00						(0.04	)
Net income per basic share	$	0.17					$	0.29
Diluted income per common share:
Income from continuing operations	$	0.17					$	0.32
Loss from discontinued operations		0.00						(0.04	)
Net income per diluted share	$	0.17					$	0.28
Weighted average common shares outstanding — basic		195,590						206,517
Weighted average common shares outstanding — diluted		197,323						209,393

	39 Weeks Ended
	October 30,			% of			October 31,			% of
	2010			Sales			2009			Sales
Net sales	$	2,051,471			100.0	%	$	1,984,488			100.0	%
Cost of sales, including certain buying, occupancy and warehousing expenses		1,241,758			60.5	%		1,202,812			60.6	%
Gross profit		809,713			39.5	%		781,676			39.4	%
Selling, general and administrative expenses		519,188			25.3	%		497,594			25.1	%
Depreciation and amortization		107,378			5.3	%		101,072			5.1	%
Operating income		183,147			8.9	%		183,010			9.2	%
Other income (expense)		2,470			0.1	%		(3,939	)		-0.2	%
Realized loss on sale of investment securities		(24,426	)		-1.2	%		(2,749	)		-0.1	%
Other-than-temporary impairment charge		(1,248	)		0.0	%		(225	)		0.0	%
Income before income taxes		159,943			7.8	%		176,097			8.9	%
Provision for income taxes		65,047			3.2	%		42,316			2.2	%
Income from continuing operations		94,896			4.6	%		133,781			6.7	%
Loss from discontinued operations, net of tax		(41,287	)		-2.0	%		(24,083	)		-1.2	%
Net income	$	53,609			2.6	%	$	109,698			5.5	%
Basic income per common share:
Income from continuing operations	$	0.47					$	0.65
Loss from discontinued operations		(0.20	)					(0.12	)
Net income per basic share	$	0.27					$	0.53
Diluted income per common share:
Income from continuing operations	$	0.46					$	0.64
Loss from discontinued operations		(0.20	)					(0.11	)
Net income per diluted share	$	0.26					$	0.53
Weighted average common shares outstanding — basic		201,678						206,169
Weighted average common shares outstanding — diluted		203,539						208,663

AMERICAN EAGLE OUTFITTERS, INC.
GAAP TO NON-GAAP EPS RECONCILIATION
(unaudited)

	13 Weeks Ended
	October 30, 2010		October 31, 2009
GAAP Diluted EPS from Continuing Operations	$	0.17	$	0.32
Add back: Realized loss on sale of investment securities		0.12		—
Deduct: Impact of tax benefit related to the repatriation of earnings from Canada		—		(0.07	)
Non-GAAP Diluted EPS from Continuing Operations	$	0.29	$	0.25

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AMERICAN EAGLE OUTFITTERS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
(unaudited)

	For the 39 Weeks Ended
	October 30,			October 31,
	2010			2009
Operating activities:
Net income	$	53,609		$	109,698
Loss from discontinued operations		41,287			24,083
Income from continuing operations		94,896			133,781
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization		110,247			102,616
Share-based compensation		21,929			18,985
Provision for deferred income taxes		5,222			(24,765	)
Tax benefit from share-based payments		12,848			8,880
Excess tax benefit from share-based payments		(4,265	)		(2,729	)
Foreign currency transaction loss		44			6,537
Net impairment loss recognized in earnings		1,248			225
Realized loss on sale of investment securities		24,426			2,749
Changes in assets and liabilities:
Merchandise inventory		(89,988	)		(128,156	)
Accounts receivable		(7,454	)		(5,080	)
Prepaid expenses and other		(4,879	)		8,580
Other assets, net		(677	)		(1,317	)
Accounts payable		40,326			50,025
Unredeemed gift cards and gift certificates		(18,916	)		(23,028	)
Deferred lease credits		(2,868	)		8,748
Accrued compensation and payroll taxes		(24,379	)		(5,161	)
Accrued income and other taxes		(13,647	)		12,342
Accrued liabilities		2,336			1,622
Total adjustments		51,553			31,073
Net cash provided by operating activities from continuing operations	$	146,449		$	164,854
Investing activities:
Capital expenditures		(65,363	)		(105,955	)
Sale of investments		177,472			77,014
Other investing activities		(1,849	)		(1,108	)
Net cash provided by (used for) investing activities from continuing operations	$	110,260		$	(30,049	)
Financing activities:
Payments on capital leases		(1,774	)		(1,337	)
Repayment of notes payable		(30,000	)		(25,000	)
Repurchase of common stock as part of publicly announced programs		(192,268	)		—
Repurchase of common stock from employees		(18,024	)		(230	)
Net proceeds from stock options exercised		5,762			8,736
Excess tax benefit from share-based payments		4,265			2,729
Cash used to net settle equity awards		(6,434	)		(1,414	)
Cash dividends paid		(64,659	)		(62,117	)
Net cash used for financing activities from continuing operations	$	(303,132	)	$	(78,633	)
Effect of exchange rates on cash		1,553			2,846
Cash flows of discontinued operations
Net cash used for operating activities		(18,309	)		(19,458	)
Net cash used for investing activities		(6	)		(299	)
Net cash used for financing activities		—			—
Effect of exchange rate on cash		—			—
Net cash used for discontinued operations	$	(18,315	)		(19,757	)
Net (decrease) increase in cash and cash equivalents	$	(63,185	)	$	39,261
Cash and cash equivalents — beginning of period		693,960			473,342
Cash and cash equivalents — end of period	$	630,775		$	512,603

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AMERICAN EAGLE OUTFITTERS, INC.
REAL ESTATE INFORMATION
(unaudited)

	Third Quarter			Year-to-date			Fiscal 2010
	Fiscal 2010			Fiscal 2010			Guidance
Consolidated stores at beginning of period		1,083			1,103			1,103
Consolidated stores opened during the period
AE Brand		5			11			14
aerie		3			10			11
77kids		2			7			9
Consolidated stores closed during the period
AE Brand		(4	)		(14	)		(15) - (25)
MARTIN+OSA		—			(28	)		(28)
Total consolidated stores at end of period		1,089			1,089			1084 - 1094
Stores remodeled during the period		7			20			25 - 30
Total gross square footage at end of period		6,323,099			6,323,099

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