American Eagle Outfitters, Inc. ($AEO) Q1 2023 Earnings Call Summary

American Eagle Outfitters, Inc. ($AEO) Q1 2023 Earnings Call Summary

Posted: 1 week, 2 days ago // May 25, 2023 1:22 p.m. UTC

Here is a summary of American Eagle Outfitters, Inc.'s Q1 2023 earnings call, which took place on May 24:

- American Eagle Outfitters reported a consolidated revenue of $1.1 billion in Q1 2021.

- Aerie delivered record revenue and profitability with double-digit revenue growth and positive comp growth.

- The company is focused on managing through the macro environment and seeking opportunities to optimize profitability.

- The use of RFID and AI-based technology is being rolled out to yield efficiencies and inventory productivity.

- The company is cautiously optimistic about their brands and focused on healthy and profitable growth.

- Aerie revenue increased 12%, with comparable sales up 2% in Q1 2021.

- The company is cutting down on capital spend to benefit future quarters, beyond 2021.

- The company plans to promote with intent and has plans in place to clear goods more profitably in Q2.

- Gross margins are expected to improve due to recovery of freight and related product costs, with net positive impact from lower markdowns on the year.

- Bright spots seen in bottoms, particularly in denim.

This is an AI generated summary. There may be inaccuracies.

Relevant tickers: AEO