PITTSBURGH — American Eagle Outfitters Inc. (NYSE: AEO) has implemented a temporary furlough of its full- and part-time associates as a measure of preserving its resources during the comprehensive shutdown from the COVID-19 pandemic.
"As a result of ongoing closures of American Eagle and Aerie stores across North America, we need to take steps to maintain financial stability and to ensure AEO Inc. emerges from this crisis healthy and strong—ready to serve our associates and our customers," states the company in a message on its website. "We are making some of the most agonizing decisions we have faced in AEO’s history."
The company didn’t specify how many employees were furloughed or whether it includes only store employees or corporate staff as well, adding only the furloughs “largely reflects the continued uncertainty around the duration of store closures.”
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