The American clothing giant
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reports its results for the fourth quarter with earnings per share of 37 cents compared to analysts’ expectations of 30 cents per share. The company’s revenues stand at 1.49 billion dollars compared to expectations of 1.47 billion dollars and 1.5 billion dollars in the previous year. Reports a quarterly dividend of 10 cents per share. The cost of inventory increased by 6% to $585 million, compared to $553 million the previous year.
Regarding the forecast, the company provided quite solid data, with revenues that are between the same and higher by a few percentages in the first quarter of next year and also in 2024. Analysts expect $1.14 profit per share and $5.11 billion in sales for the same year. The company plans to open 25 new branches on the one hand and on the other hand to close 25 branches.
“Our brand is strong and inventory is healthy. The global supply chain is returning to normal, and will provide us with an improvement in terms of raw material costs. In addition, the company’s focus continues to be on cutting expenses. At the same time, the company is still acting very carefully due to the macro environment and consumer behavior that are not yet clear to us. ” the company said.
Last year, the company announced that it would take a series of steps designed to help it finish the year 2022 in a stronger way than it finished the first half of 2022, when it received an amount of 200 million dollars from the investment bank
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(NYSE: JPM) in order to buy back shares and allow it to strengthen its capital structure. Following the report, the stock rose about 6%.
“Looking back, our self-expectations did not match the current work environment,” the company’s CEO, Jay Schottenstein, said at the time. The company, which owns 100% of the clothing company Aerie, will take additional steps to help increase sales for those returning home. The book around the world (for the full article)
American Eagle is a chain of American fashion stores, located in 17 countries around the world, with over 1000 stores and 40,000 employees. The Fox group is the franchisee of the chain in Israel and already today has a joint company with the American company for the operation of the stores in Israel, in which Fox owns 51% and American Eagle 49%. The company operates 55 stores in Israel under American Eagle brands.
The company has cash and cash equivalents of $170.2 million, its stock trades at a market value of $2.7 billion and a forward earnings multiple of 12.6.
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