American Eagle Outfitters, Inc. (Nasdaq:AEOS) today announced its consolidated financial results for the fourth quarter ended February 1, 2003:
Fourth Quarter Ended February 1, 2003. Total sales increased 5.9% to $491.6 million from $464.3 million for the quarter ended February 2, 2002. Sales for the fourth quarter 2002 included $22.2 million from the Bluenotes/Thriftys operation, compared to $29.7 million for the corresponding period last year. Comparable store sales for the American Eagle Outfitters stores declined 3.0% for the quarter ended February 1, 2003.
Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, decreased 4.6% when compared to the corresponding period last year. Net income for the quarter decreased to $38.9 million, or $0.54 per share on a diluted basis, from net income of $43.9 million, or $0.60 per share on a diluted basis last year. Year-to-Date for the Fifty-Two Weeks Ended February 1, 2003.
Total sales increased 6.7% to $1.463 billion from $1.372 billion for the fifty-two weeks ended February 2, 2002. Sales for the fifty-two weeks ended February 1, 2003 included $80.2 million from the Bluenotes/Thriftys operation, compared to $100.7 million for the corresponding period last year. Comparable store sales for the American Eagle Outfitters stores declined 4.3% when compared to the same fifty-two week period last year. Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, decreased 5.7% when compared to the corresponding period last year. Net income for the period decreased to $88.7 million, or $1.22 per share on a diluted basis, from net income of $105.5 million, or $1.43 per share on a diluted basis last year.
Regarding current month sales, February is trending below plan, due to weak mall traffic, likely spurred by colder than average weather, snowstorms and the high terror alert.
