American clothing and accessories retailer American Eagle Outfitters Inc (AEO) lowered its second-quarter earnings guidance, citing weaker than expected sales and margin results. The company revealed that its revenue decreased about 2% for the period, while same-store sales, including AEO Direct, fell 7% compared to an 8% increase in the year-earlier period.
“We are quite unhappy with our second quarter results, which were impacted primarily by a disappointing performance of our AEO women’s assortment and weak traffic. Results were exacerbated by a highly promotional retail environment, which intensified over the course of July. Within this context, we increased the depth and breadth of markdowns, which enabled us to achieve a clean inventory position moving into the third quarter,” says chief executive Robert Hanson.
AEO started this fiscal year with a drop in revenue and provided a cautious outlook for the rest of year. It has been operating in an intensely competitive environment marked by bargain-hunting consumers, deep promotions and the rise of fast-fashion peers such as H&M and Forever 21 Inc, among others.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha B / 
The Ministry of Industry and Advanced Technology (MoIAT) in cooperation with Lulu
What does it take to sustain profitable growth in the post-IPO phase?
Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in
“Retail is a people’s business. When building a retail brand or the
From being one of the first retailers in Dubai to ban single-use
For starters, Rabbit is a growing e-commerce grocery platform in Egypt always
In 2024 grocery retail major Choithrams has achieved several milestones underscoring its
Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital
The regional grocery retail market is evolving fast keeping pace with constantly
From ethical and local sourcing to adopting cutting-edge technologies to curb food
/ 
Regional eyewear retailer, eyewa has raised $100 million in its series C
Born in Senegal and raised in Lebanon, Leïa Khalaf’s journey to becoming
Softlogic Holdings PLC, one of Sri Lanka’s largest conglomerates, has a diverse
During her SOLOx session at the IMAGES RetailME Awards 2024, Mrunal Khimji,
Following the successful launch of its flagship store in City Centre Deira,
In what comes as a significant announcement, Middle East based eyewear majors
Abu Dhabi based retail company LIWA Trading Enterprises, a subsidiary of Al
Aligned with the principles of ‘slow fashion’ UAE-based homegrown brand Ryokō Bags
From designing collections to creating campaigns, from analysing user preferences and purchase
Primark, known for its affordable fashion, has experienced significant global expansion since
For off-price retailer Brands For Less (BFL) Group, change management acts as
Previous Article
