American Eagle Outfitters, Inc. · NYSE:AEO
American Eagle Outfitters — Q1 2025 Earnings Presentation
20 slides from American Eagle Outfitters's earnings presentation, May 29, 2025
Slide 1: First Quarter 2025 Investor Presentation
FIRST QUARTER 2025 Investor Presentation
Slide 2: Safe Harbor Statement Under The Private Securities Litigation Reform Act Of 1995
Safe Harbor Statement Under The Private Securities Litigation Reform Act Of 1995 This presentation and related statements by management contain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which represent management’s expectations or be
Slide 3: Non-GAAP Measures
Non-GAAP Measures This presentation includes information on non-GAAP financial measures (“non-GAAP” or “adjusted”), including operating income, net income and net income per diluted share. These financial measures are not based on any standardized methodology prescribed by U.S. generally accepted acco
Slide 4: CEO quote on challenging first quarter
“As we noted in our preliminary release, the first quarter was a challenging period for our business. While we are disappointed with the results, we are taking actions to better position the company and drive stronger performance in the upcoming quarters. Our brands remain resilient. The team is exec
Slide 5: Our Core Brands
Our Core Brands Seeded from Within, Set Up For Success Rankings reflect U.S. Market Only; Source: Circana, LLC, Retail Tracking Service, US, Jeans, Wearer Age: 15 – 25; Women’s Leggings, Activewear, & Intimates, Wearer Age: 15 – 35; Dollar Share, May 2024 – Apr 2025
Slide 6: First Quarter 2025 Results
First Quarter 2025 Results $253M cash returned to shareholders -3% $(68 million) through repurchases and dividends Comp Operating Loss ⁽¹⁾ On track to complete ASR in the second quarter -2% -4% Comp Comp (1) Results are shown on an adjusted basis. See accompanying tables for a reconciliation of GAAP
Slide 7: First Quarter 2025 Revenue
First Quarter 2025 Revenue Comparable Sales down 3% Traffic Growth Across Brands and Channels Offset by Lower AUR and Conversion (1) Comparable sales metrics are presented for the 13 weeks ended May 3, 2025 compared to the 13 weeks ended May 1, 2024. Comparable sales includes sales from American Eagl
Slide 8: Guidance
Guidance Second Quarter: › Revenue down 5% › Comparable Sales down 3% › $40M to $45M Operating Income › Gross Margin Down › SG&A Dollars Flat › D&A ~$54M › Tax Rate ~ 25% › Weighted Average Share Count ~175M Fiscal Year 2025: › Remains Withdrawn
Slide 9: Appendix
Appendix
Slide 10: Key Highlights and Inventory Data (unaudited)
Key Highlights (unaudited) FIRST QUARTER 2025 2024 TOTAL NET REVENUE CHANGE (5%) 6% COMPARABLE SALES GROWTH (3%) 7% GROSS MARGIN 29.6% 40.6% SELLING, GENERAL & ADMINISTRATIVE EXPENSES 31.1% 29.2% OPERATING MARGIN* (6.2%) 6.8% *Results are shown on an adjusted basis for the 13 weeks ended May 3, 2025
Slide 11: Balance Sheet Summary (unaudited)
Balance Sheet Summary (unaudited) ASSETS (In thousands) May 3, 2025 February 1, 2025 May 4, 2024 Cash and cash equivalents $ 87,853 $ 308,962 $ 300,518 Short-term investments - 50,000 — Merchandise inventory 645,062 636,655 681,062 Accounts receivable, net 228,561 262,365 230,934 Prepaid expenses 10
Slide 12: Revenue by Segment (unaudited)
Revenue by Segment (unaudited) 13 weeks ended (In thousands) May 3, 2025 May 4, 2024 Net Revenue: American Eagle $ 693,865 $ 724,744 Aerie 359,788 372,652 Other 43,970 54,984 Intersegment Elimination (8,024) (8,513) Total Net Revenue $ 1,089,599 $ 1,143,867
Slide 13: Statement of Operations Summary-GAAP Basis (unaudited)
Statement of Operations Summary-GAAP Basis (unaudited) 13 Weeks Ended (In thousands) May 3, 2025 % of Revenue May 4, 2024 % of Revenue Total net revenue $1,089,599 100.0% $1,143,867 100.0% Cost of sales, including certain buying, occupancy and warehousing expenses 767,178 70.4% 679,628 59.4% Gross p
Slide 14: GAAP to Non-GAAP Reconciliation (unaudited)
GAAP to Non-GAAP Reconciliation (unaudited) 13 Weeks Ended May 3, 2025 Income Tax Operating Loss Net Loss Earnings per Diluted Share (in thousands, except per share amounts) Benefit GAAP Basis $ (85,181) $ (19,712) $(64,899) $ (0.36) % of Revenue (7.8%) (6.0%) Add: Impairment and restructuring charg
Slide 15: Real Estate Highlights
Real Estate Highlights
Slide 16: 1Q Real Estate Summary (unaudited)
1Q Real Estate Summary (unaudited) QTD Real Estate Summary (unaudited) Consolidated stores at beginning of period 1,172 Consolidated stores opened during the period AE Brand (1) 1 (1) AE Brand includes AE stand alone locations, Aerie (incl. OFFL/NE) (2) 3 AE/Aerie side-by side locations, AE/OFFL/NE
Slide 17: Historical Quarterly Store Data by Brand (unaudited)
Historical Quarterly Store Data by Brand (unaudited) Store Counts Sqft By Brand Aerie & AE SA Aerie SA Off/ine SA AE / Aerie SBS AE / Off/ine SBS AE / Aerie / Off/ine SBSBS Aerie / Off/ine SBS Total Stores (1) AE Offline Weighted Weighted Weighted Weighted Weighted Weighted Weighted Weighted Weighte
Slide 18: Historical Financials
Historical Financials
Slide 19: Historical Financial Information - GAAP Basis (unaudited)
Historical Financial Information - GAAP Basis (unaudited) Fiscal 2024 Fiscal 2025 (In thousands, except per share amounts and store counts) 2020 2021 2022 2023* Q1 Q2 Q3 Q4 2024 Q1 Total net revenue $3,759,113 $5,010,785 $4,989,833 $5,261,770 $1,143,867 $1,291,058 $1,289,094 $1,604,633 $5,328,652 $1
Slide 20: Description and percent range definitions
DESCRIPTION Flat Slight Low Single Digits Mid Single Digits High Single Digits Low Double Digits Low Teens Mid Teens High Teens Low Twenties Mid Twenties High Twenties % RANGE 0.00% 0.1-0.9% 1.0-3.3% 3.4-6.6% 6.7-9.9% 10.0-12.9% 13.0-13.3% 13.4-16.6% 16.7-19.9% 20.0-23.3% 23.4-26.6% 26.7-29.9%
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