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The Pittsburgh, Pennsylvania-based company’s shares rose about 5% in extended trading as its forecast came in above market estimates of $904.1 million, according to IBES data from Refinitiv.
Like its rivals Levi Strauss (NYSE:LEVI) Co and Abercrombie & Fitch Co, American Eagle has recorded stronger sales as more customers spent their stimulus checks on the company’s jeans, trousers and tops.
“In light of the current environment, it’s truly gratifying to see consumer optimism, strong demand across channels,” American Eagle Chief Executive Officer Jay Schottenstein said in a statement.
Aerie, which sells work-from-home favorites including lingerie and loungewear, has been exceeding the company’s expectations, Schottenstein added.
American Eagle also forecast operating income of about $120 million for the first quarter, compared with $48 million in 2019.
