American Eagle Outfitters, Inc. · NYSE:AEO

American Eagle Outfitters — Q3 2025 Earnings Presentation

22 slides from American Eagle Outfitters's earnings presentation, Dec 2, 2025

1. Slide 1: Third Quarter 2025 Investor Presentation

   THIRD QUARTER 2025 Investor Presentation

2. 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

3. 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

4. Slide 4: “I’m extremely pleased with the significant trend change across our business”

   “I’m extremely pleased with the significant trend change across our business reflecting decisive steps taken from merchandising to marketing to operations—all having a positive impact. Record third quarter revenue was highlighted by Aerie’s double-digit comparable sales increase and positive growth at

5. Slide 5: Our Core Brands

   Our Core Brands Fueling Success: Product Leadership & Brand Awareness Rankings reflect U.S. Market Only; Source: Circana, LLC, Retail Tracking Service, US, Jeans, Wearer Age: 15 – 25; Women’s Leggings, Activewear, Sports Bras & Intimates, Wearer Age: 15 – 35; Dollar Share, Nov 2024 – Oct 2025

6. Slide 6: Bold Marketing

   Te & TRI nLORs Y TRAVIS KELCE E

7. Slide 7: Third Quarter 2025 Results

   Third Quarter 2025 Results 4% $113M Comp Operating Income Operating income of $113 million increased 6% on revenue of $1.36 billion Share repurchases total $231 million in the 1% +11% first half. This quarter, the company returned Comp Comp $21 million, bringing year to date total cash dividends to $

8. Slide 8: 2025 Outlook

   2025 Outlook 4Q25 Fiscal 2025 COMPARABLE SALES Up 8% to 9% Low Single Digits GROSS MARGIN Down YoY Down YoY Net Tariff Impact Approximately $50 million Approximately $70 million SG&A Dollars up Low to Mid Single Digit Dollars up Low to Mid Single Digit Approximately Approximately D&A $56 Million $21

9. Slide 9: Appendix

   Appendix

10. Slide 10: Key Highlights and Inventory Data (unaudited)

    Key Highlights (unaudited) THIRD QUARTER 2025 2024 TOTAL NET REVENUE CHANGE 6% -1% COMPARABLE SALES GROWTH 4% 3% GROSS MARGIN 40.5% 40.9% SELLING, GENERAL & ADMINISTRATIVE EXPENSES 28.4% 27.3% OPERATING MARGIN* 8.3% 9.6% *Results are shown on an adjusted basis for the 13 weeks ended November 2, 2024

11. Slide 11: Balance Sheet Summary (unaudited)

    Balance Sheet Summary (unaudited) ASSETS (In thousands) November 1, 2025 February 1, 2025 November 2, 2024 Cash and cash equivalents $ 112,830 $ 308,962 $ 160,195 Short-term investments — 50,000 — Merchandise inventory 891,232 636,655 804,256 Accounts receivable, net 245,335 262,365 214,114 Prepaid

12. Slide 12: Revenue by Segment (unaudited)

    Revenue by Segment (unaudited) 13 Weeks Ended 39 Weeks Ended (In thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024 Net Revenue: American Eagle $ 853,729 $ 831,914 $ 2,348,000 $ 2,384,295 Aerie 461,989 410,442 1,250,861 1,198,741 Other 54,624 56,562 160,117 169,002 Inters

13. Slide 13: Statement of Operations Summary-GAAP Basis (unaudited)

    Statement of Operations Summary-GAAP Basis (unaudited) 13 Weeks Ended (In thousands) November 1, 2025 % of Revenue November 2, 2024 % of Revenue Total net revenue $1,362,701 100.0% $1,289,094 100.0% Cost of sales, including certain buying, occupancy and warehousing expenses 810,824 59.5% 762,470 59.

14. Slide 14: GAAP to Non-GAAP Reconciliation (unaudited)

    GAAP to Non-GAAP Reconciliation (unaudited) 39 Weeks Ended November 1, 2025 Income Tax Operating Income Net Income Earnings per Diluted Share (In thousands, except per share amounts) Expense GAAP Basis $ 130,477 $ 37,230 $ 104,078 $ 0.59 % of Revenue 3.5% 2.8% Add: Impairment and restructuring charg

15. Slide 15: GAAP to Non-GAAP Reconciliation (unaudited)

    GAAP to Non-GAAP Reconciliation (unaudited) 13 Weeks Ended November 2, 2024 Income Tax Operating Income Net Income Earnings per Diluted Share (in thousands, except per share amounts) Expense GAAP Basis $ 106,089 $ 28,211 $ 80,019 $ 0.41 % of Revenue 8.2% 6.2% Add: Impairment and restructuring charge

16. Slide 16: GAAP to Non-GAAP Reconciliation (unaudited)

    GAAP to Non-GAAP Reconciliation (unaudited) 39 Weeks Ended November 2, 2024 Income Tax Operating Income Net Income Earnings per Diluted Share (in thousands, except per share amounts) Expense GAAP Basis $ 285,034 69,420 $ 225,034 $ 1.14 % of Revenue 7.7% 6.0% Add: Impairment and restructuring charges

17. Slide 17: Real Estate Highlights

    Real Estate Highlights

18. Slide 18: 3Q Real Estate Summary (unaudited)

    3Q Real Estate Summary (unaudited) Consolidated stores at beginning of period 1,185 Consolidated stores opened during the period AE Brand (1) 3 Aerie (incl. OFFL/NE) (2) 5 Todd Snyder - Unsubscribed - (1) AE Brand includes AE stand alone locations, AE/Aerie side-by side locations, AE/OFFL/NE Consoli

19. Slide 19: Historical Quarterly Store Data by Brand (unaudited)

    Historical Quarterly Store Data by Brand (unaudited) Store Counts Sqft By Brand 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 Aerie & Offline End Store Weighted Gross End Store Weighted Gross End Store Weighted Gross End

20. Slide 20: Historical Financials

    Historical Financials

21. Slide 21: 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 Q2 Q3 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,

22. Slide 22: Description of Outlook Percentage Ranges

    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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