American Eagle Outfitters Inc reported quarterly revenue that missed estimates on Thursday as the apparel retailer's online business slowed following vaccinations and the easing of some COVID-19 curbs.
American Eagle Outfitters Inc on Wednesday forecast first-quarter revenue of more than $1 billion as strong demand helped the apparel retailer sell more products of its eponymous and Aerie labels at full price.
American Eagle Outfitters said it expects current-quarter revenue and operating income to surpass last two years’ numbers, betting on high-growth brand Aerie that sells work-from-home favorites lingerie and loungewear.
Burgeoning collections, not enough inclusivity, over-reliance on promotions: the US lingerie label has its work cut out to refashion its range and shine again, according to a study by marketing metrics firm Retviews.
The fashion retailer has revealed a new long-term growth strategy that aims to transform its Aerie brand into a $2 billion business over the next two to three years, while also reorganizing its brick-and-mortar network.
In her new role at the company, which continued to see a boost in online sales in the second quarter, Foyle will now be responsible for overseeing merchandising, design and marketing for the American Eagle brand.