American Eagle hits second-highest holiday sales ever

PITTSBURGH — American Eagle Outfitters Inc. saw the second-highest holiday-seasons sales in its history.

The Pittsburgh-based retailer said that its quarterly revenue was down 3% through Jan. 7. The American Eagle brand was ahead of expectations while another brand, Aerie, was in line with what the company expected. But the overall American Eagle (NYSE: AEO) gross margins were between 32% and 33%, which it said was a function of what it called strong inventory management and controlled promotions.

“I am pleased to see profit margins tracking at the high end of our expectations, powered by excellent inventory management and promotional discipline,” said American Eagle Outfitters Chairman and CEO Jay Schottenstein in a statement. “Looking ahead, we are focused on delivering a leading customer experience across brands, while prioritizing free cash flow and shareholder returns.”

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