American Eagle Outfitters, Inc. (NYSE:AEO) Q2 2024 Earnings Conference Call August 29, 2024 11:00 AM ET Company Participants Judy Meehan - Senior Vice President, Corporate Communications & IR Jay Schottenstein - Executive Chairman & CEO Jen Foyle - President, Executive Creative Director for AE and Aerie Mike Mathias - CFO Conference Call Participants Adrienne Yih - Barclays Matthew Boss - JP Morgan Jay Sole - UBS Dana Telsey - The Telsey Advisory Group Paul Lejuez - Citi Jonna Kim - TD Cowen Janet Kloppenbu ...

Exhibit 99.1 AEO Inc. Reports Record Second Quarter Revenue and Meaningful Operating Margin Expansion; Updates Full-Year Operating Income Outlook to the High-End of Prior Guidance August 29, 2024 PITTSBURGH -- (BUSINESS WIRE) – American Eagle Outfitters, Inc. (NYSE: AEO) today announced financial results for the second quarter fiscal 2024 ended August 3, 2024. "Our Powering Profitable Growth strategy is off to a great start, locking in a strong first half and setting us on track to achieve the high end of o ...

[PART I - FINANCIAL INFORMATION](index=6&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Forward Looking Statements](index=4&type=section&id=Forward%20Looking%20Statements) This section outlines forward-looking statements based on management's beliefs and cautions that results may differ due to risks - Fiscal 2024 plans include opening approximately **5-15 American Eagle stores** and **25-40 Aerie/OFFLINE stores**, remodeling **80-90 stores**, and potentially closing **10-20 American Eagle stores**[9](index=9&type=chunk) - Key risks that could impact future results include macroeconomic conditions, fashion trends, competition, and supply chain issues[9](index=9&type=chunk)[10](index=10&type=chunk) [Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) Presents consolidated financial statements showing a 6% revenue increase and a significant rise in net income to $67.8 million [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Highlights (in thousands) | Account | May 4, 2024 | February 3, 2024 | April 29, 2023 | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash and cash equivalents | $300,518 | $354,094 | $117,841 | | Merchandise inventory | $681,062 | $640,662 | $624,851 | | Total current assets | $1,311,317 | $1,433,350 | $1,129,501 | | Total assets | $3,557,217 | $3,557,909 | $3,373,894 | | **Liabilities & Equity** | | | | | Total current liabilities | $773,329 | $891,172 | $716,437 | | Total liabilities | $1,804,861 | $1,821,150 | $1,754,878 | | Total stockholders' equity | $1,752,356 | $1,736,759 | $1,619,016 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Consolidated Statements of Operations (in thousands, except per share data) | Metric | 13 Weeks Ended May 4, 2024 | 13 Weeks Ended April 29, 2023 | | :--- | :--- | :--- | | Total net revenue | $1,143,867 | $1,080,926 | | Gross profit | $464,239 | $413,179 | | Impairment, restructuring and other charges | $0 | $21,275 | | Operating income | $77,836 | $22,831 | | Net income | $67,752 | $18,453 | | Diluted net income per common share | $0.34 | $0.09 | [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated Statements of Cash Flows Highlights (in thousands) | Activity | 13 Weeks Ended May 4, 2024 | 13 Weeks Ended April 29, 2023 | | :--- | :--- | :--- | | Net cash (used for) operating activities | $(38,111) | $(8,216) | | Net cash provided by (used for) investing activities | $59,221 | $(46,020) | | Net cash (used for) provided by financing activities | $(74,214) | $1,908 | | Net change in cash and cash equivalents | $(53,576) | $(52,368) | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) - The company operates two reportable segments: **American Eagle** and **Aerie**, with other operations grouped under 'Other'[27](index=27&type=chunk)[78](index=78&type=chunk)[114](index=114&type=chunk) - No impairment charges were recorded in the current quarter, unlike the **$21.3 million** charge in the prior-year quarter[119](index=119&type=chunk)[120](index=120&type=chunk)[149](index=149&type=chunk) - The effective income tax rate decreased to **18.0%** from 27.5% in the prior year, due to tax benefits on share-based payments[111](index=111&type=chunk)[157](index=157&type=chunk) - As of May 4, 2024, the company had **no outstanding long-term debt**[93](index=93&type=chunk)[98](index=98&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q1 performance to its growth plan, resulting in a 6% revenue increase and 241% operating income surge [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Brand Revenue Performance (13 Weeks Ended May 4, 2024 vs. Prior Year) | Brand | Revenue (in thousands) | % Change YoY | | :--- | :--- | :--- | | American Eagle | $724,744 | +8% | | Aerie | $372,652 | +4% | - Total net revenue increased **6% to $1.144 billion**, with comparable sales up 7%[140](index=140&type=chunk) - Gross profit rose **12% to $464.2 million**, and the gross margin rate expanded by **240 basis points to 40.6%**[137](index=137&type=chunk)[145](index=145&type=chunk) - Selling, general and administrative (SG&A) expenses increased by **7% to $333.5 million**[148](index=148&type=chunk) - Operating income increased **241% to $77.8 million** from $22.8 million in the prior year[151](index=151&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) - The company ended the quarter with **$300.5 million in cash** and no outstanding borrowings under its credit facility[167](index=167&type=chunk)[168](index=168&type=chunk) - Capital expenditures were **$36.2 million** for the quarter, with a full-year projection of **$200 million to $250 million**[176](index=176&type=chunk) - The company returned **$24.6 million in dividends** and **$34.9 million in share repurchases** to shareholders[171](index=171&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk exposure from foreign exchange fluctuations has not materially changed since Fiscal 2023 - The primary market risk is foreign exchange rate risk from Canadian and Mexican operations, with no material change in the risk profile[183](index=183&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal controls over financial reporting were effective - Management concluded that disclosure controls and procedures were **effective** as of the end of the quarter[185](index=185&type=chunk) - There were **no material changes** in internal control over financial reporting during the quarter[186](index=186&type=chunk) [PART II - OTHER INFORMATION](index=36&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings) The company does not expect current legal proceedings to have a material adverse effect on its financial condition - The company does not expect the resolution of currently pending legal matters to have a **material adverse effect**[187](index=187&type=chunk) [Risk Factors](index=36&type=section&id=Item%201A.%20Risk%20Factors) This section confirms no material changes to risk factors previously disclosed in the company's Annual Report on Form 10-K - There have been **no material changes** to the company's risk factors as disclosed in the Fiscal 2023 Form 10-K[189](index=189&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company details its repurchase of 1.5 million shares under a new 30 million share repurchase authorization Issuer Purchases of Equity Securities (13 Weeks Ended May 4, 2024) | Period | Total Shares Purchased | Average Price Paid | Shares Purchased as Part of Public Program | | :--- | :--- | :--- | :--- | | Month 1 | 101,013 | $22.48 | 0 | | Month 2 | 1,208,269 | $23.11 | 846,451 | | Month 3 | 721,572 | $23.55 | 653,549 | | **Total** | **2,030,854** | **$23.30** | **1,500,000** | - A new share repurchase program for **30 million shares** was authorized, with **28.5 million shares** remaining available[178](index=178&type=chunk)[190](index=190&type=chunk) [Exhibits](index=38&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the report, including stock award agreements and CEO/CFO certifications - Filed exhibits include forms of stock award agreements, CEO/CFO certifications, and XBRL data files[196](index=196&type=chunk)

Financial Data and Key Metrics Changes - First quarter revenue reached $1.1 billion, a record for the company, reflecting a 6% increase year-over-year, driven by a 7% increase in comparable sales growth [11][22] - Operating income was $78 million, representing a 76% increase from last year's adjusted operating income of $44 million, with an operating margin rise of 270 basis points to 6.8% [22][13] - Gross profit dollars increased by 12% to $464 million, with gross margin expanding by 240 basis points to 40.6%, marking the second highest rate since 2008 [22][13] Business Line Data and Key Metrics Changes - American Eagle brand saw an 8% revenue growth, fueled by a 7% increase in comparable sales, with notable strength in women's tops, dresses, skirts, and jeans [15][12] - Aerie achieved a record revenue quarter with a 4% increase year-over-year, driven by a 6% increase in comparable sales, while excluding swim, comps were up 11% [17][12] - The operating margin for Aerie increased by 70 basis points to 16.5%, with strong performance in corset dressing and Activewear [17][12] Market Data and Key Metrics Changes - The company reported strong growth across both digital and store channels, with digital revenue experiencing a double-digit increase [12][15] - Aerie's performance was impacted by swim trends, which were challenging in the spring season, but the brand remains confident in its growth trajectory [17][36] Company Strategy and Development Direction - The new strategic plan, "Powering Profitable Growth," aims for steady growth and an operating margin target of 10% by 2026 [8][9] - The company focuses on three strategic pillars: amplifying brands, optimizing operations, and executing with financial discipline [10][9] - Investments in brand awareness and assortment expansion are expected to drive future growth, particularly in the Activewear and soft dressing categories [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's future, citing a strong cash position and healthy balance sheet with $300 million in cash and no debt [13][22] - The company is on track to meet its full-year guidance for revenue and operating income, with expectations for continued momentum into the second quarter [13][28] - Management noted that the retail calendar shift positively impacted revenue, particularly in the back-to-school season [28][27] Other Important Information - The company returned approximately $60 million to shareholders through dividends and share repurchases [13] - Capital expenditures totaled $36 million, with expectations for full-year spending in the range of $200 million to $250 million [26] Q&A Session Summary Question: Current demand trends and confidence in comping - Management highlighted strong early trends in American Eagle, particularly in women's assortments, and expressed confidence in back-to-school offerings [31] Question: SG&A performance and outlook - SG&A for Q1 was in line with guidance, with expectations for mid-single-digit growth in Q2 and a plan for SG&A dollars to decrease in the back half of the year [32][50] Question: Impact of swim on Aerie's performance - Swim contributed a high single-digit impact on Aerie's performance in the first half, with expectations for improvement in the back half [36][17] Question: Channel sales performance - Aerie's comp was up 6%, with digital and store channels performing similarly, while American Eagle saw high-teens growth in digital [39] Question: Aerie intimates weakness and market trends - Intimates comprise about a third of Aerie's business, with management noting a pivot in customer preferences towards Activewear and sports bras [73][70]

Exhibit 99.1 AEO Inc. Reports First Quarter Fiscal 2024 Results Reflecting Strong Execution on Powering Profitable Growth Strategy May 29, 2024 PITTSBURGH -- (BUSINESS WIRE) – American Eagle Outfitters, Inc. (NYSE: AEO) today announced financial results for the first quarter fiscal 2024 ended May 4, 2024. "Our strong first quarter results underscore the power of our iconic brand portfolio and demonstrate great progress on our Powering Profitable Growth strategy. We achieved record revenue, amplifying Americ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 3, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-33338a AMERICAN EAGLE OUTFITTERS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 77 Hot Metal Street, Pi ...

Financial Data and Key Metrics Changes - The company achieved record revenue of $5.3 billion in 2023, with adjusted operating income of $375 million, marking the highest adjusted operating income since 2012 [5][12] - Fourth quarter revenue reached $1.7 billion, a 12% increase year-over-year, with adjusted operating margin increasing by 200 basis points to 8.4% [12][14] - Adjusted EPS for the fourth quarter was $0.61, up 65% compared to the previous year [13] Business Line Data and Key Metrics Changes - American Eagle revenue grew by 11%, driven by a 6% increase in comparable sales, with operating margin expanding by 100 basis points to 17% [8][12] - Aerie revenue increased by 16%, with comparable sales up 13%, and operating margin reached an all-time high of 16.2%, a 400 basis point increase from last year [9][10] Market Data and Key Metrics Changes - The total addressable market for American Eagle is estimated at $70 billion, with significant opportunities in social casual and men's activewear markets [63] - The men's activewear market is valued at $27 billion, with the company already generating $100 million from its new 24/7 activewear capsule [31][63] Company Strategy and Development Direction - The company introduced a long-term strategy focused on "Powering Profitable Growth," with three main pillars: amplifying brands, executing with financial discipline, and optimizing operations [17][18] - The strategy aims for annual profit growth in the mid to high teens on a top-line growth of 3% to 5% [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position and the effectiveness of profit improvement initiatives, expecting revenue and profit growth in 2024 [6][14] - The company anticipates comp sales growth to be stronger in the first half of 2024, with mid-single digits expected [15][16] Other Important Information - The company announced a 25% increase in its quarterly cash dividend and authorized a $30 million share repurchase program [6][14] - A restructuring charge of $131 million was recorded in the fourth quarter, expected to yield annualized savings of approximately $20 million starting in 2024 [14] Q&A Session Summary Question: Can you speak to the total addressable market and customer file opportunity for the AE brand? - The total addressable market is $70 billion, with significant white space for growth. The company is focused on rationalizing the fleet and SKU count to introduce new expanded categories [63] Question: What are the growth opportunities in the men's activewear market? - The men's activewear market is valued at $27 billion, and the company has seen early success with its 24/7 activewear capsule, generating $100 million [31][63]

Exhibit 99.1 AEO Reports Record Fourth Quarter Revenue, Reflecting Momentum Across Brands and Continued Progress On Profit Improvement Initiatives March 7, 2024 PITTSBURGH -- (BUSINESS WIRE) – American Eagle Outfitters, Inc. (NYSE: AEO) today announced financial results for the fourth quarter and full year fiscal 2023 ended February 3, 2024. In a separate release today, the company also announced its new Powering Profitable Growth long-term strategy structured to deliver $5.7 to $6.0 billion in revenue and ...

American Eagle Outfitters, Inc. (NYSE:AEO) Q3 2023 Earnings Conference Call November 21, 2023 11:00 AM ET Company Participants Judy Meehan - SVP of Corporate Communications and IR Jay Schottenstein - Executive Chairman and CEO Jen Foyle - President and Executive Creative Director, AE & Aerie Mike Mathias - CFO Conference Call Participants Matthew Boss - JPMorgan Kelly Crago - Citigroup Inc. Dana Telsey - Telsey Advisory Group Jay Sole - UBS Simeon Siegel - BMO Capital Markets Chris Nardone - BofA Securiti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-33338 American Eagle Outfitters, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 77 Hot Metal Str ...