As part of the plan, the company will focus on the power American Eagle Outfitter’s people, culture and purpose.
The Real Power. Real Growth. Plan targets $5.5bn in revenue; 10 per cent operating margin; and $550M in operating income. American Eagle Outfitters intends to double Aerie to $2bn in revenue and reignite American Eagle for profit growth.
To do this, the company plans to shutter 200 to 250 mall-based stores over the next two-three years and increase the number of Aerie (its intimate apparel brand) store locations by as many as 50.
Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer, commented: “2020 demonstrated the strength of our organisation, our brands and our capabilities – and we are emerging with momentum. As the pace of change and innovation accelerated over the past year, I believe the environment is ripe with potential, and I see more opportunity for AEO than ever before.”
