AMERICAN EAGLE OUTFITTERS INC
For the period ended Nov 2, 2024. Filed Dec 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Nov 2, 2024 · Filed Dec 4, 2024
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Non-GAAP Information
The section below includes operating income and net income and net income per diluted share presented on an adjusted or non-GAAP basis, which are non-GAAP financial measures. These financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. Non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. We believe that this non-GAAP information is useful as an additional means for investors to evaluate our operating performance when reviewed in conjunction with our GAAP Consolidated Financial Statements and provides a higher degree of transparency. These amounts are not determined in accordance with GAAP and, therefore, should not be used exclusively in evaluating our business and operations. The table below reconciles the GAAP financial measures to the non-GAAP financial measures discussed above for the 13 weeks ended November 2, 2024.
| GAAP to Non-GAAP Reconciliation | ||||||
|---|---|---|---|---|---|---|
| (Dollars in thousands, except per share amounts) | ||||||
| 13 Weeks Ended | ||||||
| Operating Income · Provision for Income Taxes · Net Income · Earnings per Diluted Share | ||||||
| GAAP Basis | $106,089 | $28,211 | $80,019 | $0.41 | ||
| % of Revenue | 8.2% | 6.2% | ||||
| Add: Impairment, restructuring and other charges (1) | $17,561 | $12,983 | $0.07 | |||
| Tax effect of the above (2) | $4,578 | |||||
| Non-GAAP Basis | $123,650 | $32,789 | $93,002 | $0.48 | ||
| % of Revenue | 9.6% | 7.3% | ||||
There were no impairment, restructuring, and other charges recorded for the 13 weeks ended October 29, 2023.
For the 39 weeks ended November 2, 2024, the table below reconciles the GAAP financial measures to the non-GAAP financial measures:
| GAAP to Non-GAAP Reconciliation | ||||||
|---|---|---|---|---|---|---|
| (Dollars in thousands, except per share amounts) | ||||||
| 39 Weeks Ended | ||||||
| Operating Income · Provision for Income Taxes · Net Income · Earnings per Diluted Share | ||||||
| GAAP Basis | $285,034 | $69,420 | $225,034 | $1.14 | ||
| % of Revenue | 7.7% | 6.0% | ||||
| Add: Impairment, restructuring and other charges (1) | $17,561 | $12,983 | $0.06 | |||
| Tax effect of the above (2) | $4,578 | |||||
| Non-GAAP Basis | $302,595 | $73,998 | $238,017 | $1.20 | ||
| % of Revenue | 8.1% | 6.4% | ||||
For the 39 weeks ended October 28, 2023, the table below reconciles the GAAP financial measures to the non-GAAP financial measures:
| GAAP to Non-GAAP Reconciliation | ||||||
|---|---|---|---|---|---|---|
| (Dollars in thousands, except per share amounts) | ||||||
| 39 Weeks Ended | ||||||
| Operating Income · Provision for Income Taxes · Net Income · Earnings per Diluted Share | ||||||
| GAAP Basis | $213,481 | $60,434 | $163,722 | $0.83 | ||
| % of Revenue | 6.0% | 4.6% | ||||
| Add: Impairment, restructuring and other charges (1) | $21,275 | $15,424 | $0.08 | |||
| Tax effect of the above (2) | $5,851 | |||||
| Non-GAAP Basis | $234,756 | $66,285 | $179,146 | $0.91 | ||
| % of Revenue | 6.6% | 5.0% | ||||
International Operations
We have agreements with multiple third-party operators to expand our brands internationally. Our international licensing partners acquire the right to sell, promote, market, and/or distribute various categories of our products in a given geographic area and to source products from us. International licensees' rights include the right to own and operate retail stores and may include rights to sell in wholesale markets, shop-in-shop concessions and rights to operate online marketplace businesses. As of November 2, 2024, our international licensing partners operated in 310 licensed retail stores and concessions, as well as wholesale markets, online brand sites, and online marketplaces in approximately 30 countries.
As of November 2, 2024, we had 103 Company-owned stores in Canada, 85 in Mexico, 13 in Hong Kong, and seven in Puerto Rico. Refer to Note 14, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements included herein for additional information regarding Hong Kong retail operations.
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