For the full fiscal 2024, comparable sales rose by 4% while total revenue inched up by 1% to $5.3 billion and gross profit went up by 3% to $2.1 billion.
Schottenstein added: “While we anticipate improvement as the spring season gets underway, we are also taking proactive steps to strengthen the top line, manage inventory, and reduce expenses.
“As we navigate through an uncertain consumer and operating landscape, we will also remain focused on our long-term strategic priorities.”
For the upcoming year, American Eagle predicted a weak outlook, expecting a mid-single-digit decline for revenue in Q1 and a low-single-digit decline in fiscal year 2025.
Additionally, the retailer plans to move to a new $40 million Manhattan office and remodel between 90 to 100 stores as part of its fleet optimization plan.
American Eagle currently operates over 1000 stores in the US with its headquarters in Pittsburgh.
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