WASHINGTON (dpa-AFX) - Specialty retailer American Eagle Outfitters Inc.
(AEO), while announcing weak fourth-quarter profit and higher revenues, on
Thursday said it sees operating profit and revenue growth in fiscal 2024.

In a separate release, the company announced its new three-year Powering
Profitable Growth long-term strategy structured to deliver $5.7 billion to $6.0
billion in revenue and an approximate 10 percent operating margin by the end of
Fiscal 2026.

This implies a compounded annual growth rate of mid-to-high teens for operating
income and 3 percent to 5 percent for revenue growth.

In pre-market activity on the NYSE, American Eagle shares were gaining around
11.7 percent to trade at $26.19.

For the first quarter, the company expects operating income in the range of $65
to $70 million, reflecting revenue growth in mid-single digits.

Further, for fiscal 2024, the company expects operating income in the range of
$445 to $465 million, reflecting revenue growth in the range of 2 percent to 4
percent.

In fiscal 2023, operating income was $223 million and adjusted operating income
was $375 million, on net revenue of $5.3 billion.

The company projects revenue and profit growth to be skewed to the first half of
the year.

In its fourth quarter, American Eagle Outfitters' profit decreased from last
year but beat the Street estimates.

The company's bottom line totaled $6.32 million, or $0.03 per share. This
compares with $54.59 million, or $0.28 per share, in last year's fourth quarter.

Adjusted earnings were $121.40 million or $0.61 per share for the period.
Analysts on average had expected the company to earn $0.50 per share, according
to figures compiled by Thomson Reuters. Analysts' estimates typically exclude
special items.

The company's revenue for the quarter rose 12.0 percent to $1.68 billion from
$1.50 billion last year.

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