American Eagle Outfitters Increases Share Repurchase Authorization by 23 Million Shares.WARRENDALE, Pa. -- American Eagle Outfitters, Inc. (NYSE NYSE See: New York Stock Exchange :AEO) today announced that its Board of Directors has authorized an additional 23 million shares for its repurchase program. The new authorization is in addition to the approximately 4.2 million shares remaining under the Company's previously announced 7 million share authorization. Share repurchases under the new authorization can be made through the end of fiscal 2009. At the end of the first quarter, the Company had approximately 226 million weighted average shares of common stock outstanding on a diluted basis. "The American Eagle Board of Directors is committed to using the Company's strong cash flow to enhance shareholder value," noted Jim O'Donnell, Chief Executive Officer. "In addition to our ongoing investments in building our brands and operational infrastructure to drive profitable growth, as well as our cash dividend policy, we are pleased to be able to announce this significant expansion of our share repurchase program." About American Eagle Outfitters American Eagle Outfitters, Inc. (NYSE:AEO) is a leading retailer that operates under the American Eagle Outfitters and MARTIN + OSA Martin + Osa (Martin & Osa) is a new clothing brand developed by American Eagle Outfitters. The store's name and inspiration comes from Martin and Osa Johnson, a globetrotting husband and wife team from Kansas who explored Africa and the South Pacific Islands, chronicling their brands. American Eagle Outfitters designs, markets and sells its own brand of laidback, current clothing targeting 15 to 25 year-olds, providing high-quality merchandise at affordable prices. AE's original collection includes standards like jeans and graphic Ts as well as essentials like accessories, outerwear, footwear, basics and swimwear. American Eagle currently operates 840 stores in 50 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. , and 73 AE stores in Canada. American Eagle also operates ae.com, which offers additional sizes and styles of favorite AE merchandise and ships around the world. The American Eagle brand also includes a new collection of dormwear and intimates, "aerie by American Eagle." aerie is available in American Eagle stores across the country and at aerie.com. It includes bras, undies, camis, hoodies, robes, boxers, sweats and leggings leg·ging n. 1. A leg covering usually extending from the ankle to the knee and often made of material such as leather or canvas, worn especially by soldiers and workers. 2. leggings a. for the AE girl. Designed to be sweetly sexy, comfortable and cozy See COSE. , aerie offers AE customers a new way to express their personal style everyday, from the dormroom to the coffee shop to the classroom. The company introduced MARTIN + OSA, a new sportswear concept targeting 25 to 40 year-old women and men. MARTIN + OSA carries apparel, accessories and footwear, using denim and sport inspiration to design fun and sport back into sportswear. MARTIN + OSA currently operates eight stores. For additional information and updates, visit martinandosa.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release contains forward-looking statements, which represent our expectations or beliefs concerning future events, specifically regarding future profitable growth. 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 future growth plans and strong profitability may not be achieved and those other risks described in the Risk Factor Section of the company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Form 10-Q Form 10-Q See 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. |
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