American Eagle Outfitters, Inc. reported EPS of $0.08 for the second quarter compared to $0.38 from last year. The discrepancy is due to the COVID-19 pandemic and restructuring costs, the company said. Despite the decline, Aerie, the company’s body-inclusive lingerie brand, saw increased revenue.
“In the midst of an unprecedented crisis, we delivered a significant improvement from the first quarter throughout our business – a true testament to the agility, talent and commitment of our team,” Jay Schottenstein, AEO’s chairman and CEO, said. “Aerie was simply outstanding, fueled by strong demand, with revenue rising 32% and record margins, demonstrating the power of the brand and signaling the vast opportunity ahead. Across brands, digital sales accelerated and we successfully reopened stores during the quarter.”
Total net revenue Q2 decreased $157 million, or 15% to $884 million, compared to $1.04 billion last year. By brand, American Eagle revenue decreased 26%, following a 1% decline last year. Aerie’s revenue increased 32%, following a 22% increase last year.