American Eagle Outfitters, Inc. (Nasdaq:AEOS) today announced that total sales for the month ended January 3, 2004 increased 4.3% to $280.6 million, compared to $269.0 million for the month ended January 4, 2003. Comparable store sales for the American Eagle Outfitters stores decreased 6.1% for the December period. Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, decreased 5.7% for the month of December.
Total sales for the period include $15.0 million from the Bluenotes/Thriftys operation, compared to $12.5 million for the corresponding period last year. The 20.3% sales increase was due primarily to the strengthening of the Canadian dollar compared to a year ago as well as a comparable store sales increase of 1.1% in December. The comparable store sales calculation excludes the impact of foreign currency fluctuations.
Year-to-date total sales for the eleven-month period ended January 3, 2004 increased 3.4% to $1.432 billion, compared to $1.384 billion for the eleven-month period ended January 4, 2003. Comparable store sales for the American Eagle Outfitters stores declined 7.0% for the eleven-month period. Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, declined 7.1% for the eleven-month period compared to the corresponding period ended January 4, 2003.
Year-to-date total sales for the eleven-month period include $79.9 million from the Bluenotes/Thriftys operation, compared to $76.5 million for the corresponding period last year. The 4.5% sales increase was due to the strengthening of the Canadian dollar compared to a year ago. Bluenotes/Thriftys comparable store sales, which exclude the impact of foreign currency fluctuations, declined 7.9% for the eleven-month period compared to the corresponding period last year.
Regarding fourth quarter earnings, the Company is comfortable with the current First Call mean estimate of $0.47 per share, before potential additional goodwill impairment charges attributed to the Bluenotes segment.
