AEO Stock Jumps 8% after American Eagle Outfitters Predicts Increase in Revenue coinspeaker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coinspeaker.com Daily Mail and Mail on Sunday newspapers.
Its shares jumped more than 8% in after-hours trading.
The tween-and-teen apparel retailer said demand for goods at both its namesake American Eagle business and at Aerie which sells comfortable lingerie and loungewear for young females has been stronger than expected. That s in part due to external factors, including economic stimulus, renewed consumer optimism and bottled-up demand from customers, it said.
American Eagle s denim business has been particularly strong, and shoppers have also started buying more tops, Chief Executive Jay Schottenstein said during a phone interview with CNBC. There s a lot of money out there, he said. We think the environment for the next few years, it s going to be a very good environment. . People will want to spend [and] people are going to want to go out and they re going to want to get back to what was normal before.
April 9, 2021
The skinny jean is being pushed aside by a roomier new silhouette, following a 15-year reign that began when it supplanted bootcut jeans in the mid-2000s.
Jeans with a looser fit and a higher rise have already been gaining popularity for a few years. Now they’re registering substantial sales at mass-market denim leaders such as Levi’s and American Eagle Outfitters, suggesting it’s more than a niche trend. Wider jeans are officially mainstream again.
Levi’s CEO Chip Bergh has talked about the growing appetite for more relaxed fits over the past year. On a call yesterday with investors and analysts to discuss the company’s recent performance, he said the shift was one of the factors driving a “denim resurgence” he believes is industry-wide.
New boutique opens in Westport
Jarret Liotta
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Jordan Green, of Westport, whose mother operated Wish List, looks over the merchendise at Unsubscribed on Saturday, April 3, 2021, in Westport, Conn.Jarret Liotta / Jarret LiottaShow MoreShow Less
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Lauren Schwartz, manager of Unsubscribed, welcomes customers on Saturday, April 3, 2021, in Westport, Conn.Jarret Liotta / Jarret LiottaShow MoreShow Less
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There s another new store on Main Street called Unsubscribed, which opened on Saturday, April 3, 2021, in Westport, Conn.Jarret Liotta / Jarret LiottaShow MoreShow Less
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Devon Valera, of Fairfield, shops at Unsubscribed on Saturday, April 3, 2021, in Westport, Conn.Jarret Liotta / Jarret LiottaShow MoreShow Less