American Eagle Outfitters, Inc. (AEO) has reported a 2.22 percent rise in profit for the quarter ended Oct. 29, 2016. The company has earned $75.76 million, or $0.41 a share in the quarter, compared with $74.11 million, or $0.38 a share for the same period last year.
Revenue during the quarter went up marginally by 2.34 percent to $940.61 million from $919.07 million in the previous year period. Gross margin for the quarter expanded 18 basis points over the previous year period to 40.17 percent. Total expenses were 87.43 percent of quarterly revenues, down from 88.13 percent for the same period last year. This has led to an improvement of 70 basis points in operating margin to 12.57 percent.
Operating income for the quarter was $118.27 million, compared with $109.11 million in the previous year period.
"I'm pleased that we continued to deliver strong results in a tough retail climate, with the third quarter reaching record sales and marking the 9th consecutive quarter of profit improvement," said chief executive officer, Jay Schottenstein. "We are sharply focused on delivering the best innovation, consistent quality and outstanding value to our customers day-in and day-out. The holiday season is off to a solid start and our brands are well-positioned. We will continue to leverage our leading capabilities to maintain momentum and build on the progress we’ve made over the past few years."
For the fourth-quarter 2016, American Eagle Outfitters, Inc. projects diluted earnings per share to be in the range of $0.37 to $0.39.
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