American Eagle Outfitters, Inc. (Nasdaq: AEOS) today announced that total sales for the four-week period ended November 30, 2002 increased 3.0% to $143.9 million, compared to $139.7 million for the four-week period ended December 1, 2001. Total sales for the period include $5.9 million from the Bluenotes/Thriftys operation, compared to $8.4 million for the corresponding period last year.
Comparable store sales for the American Eagle Outfitters stores declined 4.9% for the November period. Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, decreased 6.5% for the month compared to the corresponding period ended December 1, 2001. Bluenotes/Thriftys comparable store sales declined 30.1% in November compared to last year.
Total sales for the forty-three week period ended November 30, 2002 increased 6.5% to $1.115 billion from $1.047 billion for the forty-three week period ended December 1, 2001. Total sales for the period include $64.0 million from the Bluenotes/Thriftys operation, compared to $79.3 million for the corresponding period last year.
Comparable store sales for the American Eagle Outfitters stores declined 5.0% for the forty-three week period ended November 30, 2002. Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, decreased 6.3% for the forty-three week period compared to the corresponding period ended December 1, 2001. Bluenotes/Thriftys comparable store sales declined 21.7% for the period compared to last year.
The current fourth quarter First Call consensus estimate of $0.56 is in the range of the Company's expectations and is based on a December comparable store sales decline in the low single-digits.
American Eagle Outfitters (Nasdaq: AEOS) is a leading lifestyle retailer that designs, markets, and sells its own brand of relaxed, versatile clothing for 16 to 34 year-olds, providing high-quality merchandise at affordable prices. AE's lifestyle collection includes casual basics like khakis, cargos, and jeans; fashion tops like rugbys, polos, and graphic T's; and functional items like swimwear, outerwear, footwear, and accessories. AE's Canadian subsidiary, Bluenotes/Thriftys, targets a slightly younger demographic, offering a more urban/suburban, denim-driven collection for 12 to 22 year- olds. American Eagle Outfitters currently operates 700 AE stores in 48 states and the District of Columbia, 56 AE stores in Canada, and 111 Bluenotes/Thriftys stores in Canada. AE also operates via its internet business, ae.com.
'Safe Harbor' Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which represent our expectations or beliefs concerning future events, specifically regarding December comparable store sales and fourth quarter earnings. All forward- looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors beyond the Company's control. Such factors include, but are not limited to, the risk that our fourth quarter sales and financial plans may not be achieved, and those other risks described in the Company's filings with the Securities and Exchange Commission. Accordingly, the Company's future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. The Company does not undertake to publicly update or revise its forward-looking statements even if future changes make it clear that projected results expressed or implied will not be realized.