American Eagle Outfitters Reports Record March Sales of $119.3 Million, an Increase of 1.7%.Business Editors WARRENDALE, Pa.--(BUSINESS WIRE)--April 9, 2003 American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Eagle Outfitters, Inc. (Nasdaq:AEOS AEOS American Eagle Outfitters Inc. (stock symbol) AEOS Advanced Electro-Optical System (3.67 meter adaptive optical telescope on Maui) AEOS Advanced Electro Optical Sensor ) today announced that total sales for the five-week period ended April 5, 2003 increased 1.7% to $119.3 million, compared to $117.4 million for the five-week period ended April 6, 2002. Comparable store sales for the American Eagle Outfitters stores decreased 8.5% for the March period. Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, decreased 9.3% for the month compared to the corresponding period ended April 6, 2002. Total sales for the five-week period ended April 5, 2003 include $6.0 million from the Bluenotes/Thriftys operation, compared to $7.1 million for the corresponding period last year. Bluenotes/Thriftys comparable store sales declined 20.8% in March compared to last year. Total sales for the nine-week period ended April 5, 2003 increased 2.7% to $193.6 million, compared to $188.5 million for the nine-week period ended April 6, 2002. Comparable store sales for the American Eagle Outfitters stores decreased 7.9% for the nine-week period. Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, decreased 8.8% for the period compared to the corresponding period ended April 6, 2002. Total sales for the nine-week period include $10.0 million from the Bluenotes/Thriftys operation, compared to $11.7 million for the corresponding period last year. Bluenotes/Thriftys comparable store sales declined 19.9% for the period compared to the corresponding period last year. Due to lower than expected sales performance in February February: see month. and March and continued margin pressure from the Bluenotes Division, the Company currently expects first quarter earnings to be in the range of $0.10 to $0.12 per share, which is based on an expected April consolidated comp comp See comparison. store sales increase in the mid to high single digits. To access our recorded monthly sales commentary, please call 800-642-1687, conference code #3282124. American Eagle Outfitters (NASDAQ: AEOS) 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 khak·i n. 1. A light olive brown to moderate or light yellowish brown. 2. a. A sturdy cloth of this color. b. khakis A uniform made of this cloth. , cargos, and jeans; fashion tops like rugbys, polos, and graphic T's; and functional items like swimwear, outerwear, footwear Footwear consists of garments worn on the feet. It is worn for a variety of reasons, including protection against the environment, hygiene and adornment. Usually, socks and other hosiery are worn between the feet and the footwear, except for sandals and flip flops (thongs). , and accessories. AE's Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. 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 699 AE stores in 48 states and 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). , 58 AE stores in Canada, and 111 Bluenotes/Thriftys stores in Canada. AE also operates via its internet business, ae.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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which represent our expectations or beliefs concerning future events, specifically regarding April sales and first 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 our April sales and first quarter financial plans may not be achieved, and those other risks described in the Company's filings 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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