Sales at the teen-apparel retailer American Eagle have been dropping for a while but their latest results show there has been a noticeable jump. Whilst their profit is still decreasing, their sales have declined less steeply than they have for the past two years, exceeding recent expectations. Hopefully this is a sign that the company is back on track. Chief Executive Officer at American Eagle, Jay Schottenstein has been working hard to repair damage to the company by closing under performing stores and clearing out merchandise.
Jay said of the increase in sales: “Although the second quarter results were slightly ahead of our expectations, they do not reflect our potential… We did, however, make significant progress on our priorities to build a sustainable path to higher profitability.”
American Eagle have had a better year so far, selling through their spring and summer merchandise. They have made their goods more aesthetically pleasing to their market and are ready to enter the second half of the year “in a good inventory position.”