American Eagle expects margins to improve |
Reuters - Mar 7, 2012 |
Teen clothing retailer American Eagle Outfitters Inc (AEO.N) said the spring quarter started on a strong note and its margins will benefit from lower markdowns and costs as the year progresses, sending its shares up 5 percent.
American Eagle, whose prices are between high-end rival Abercrombie & Fitch Co (ANF.N) and more affordable Aeropostale Inc (ARO.N), is changing its merchandising and sourcing strategies under former Levi Strauss & Co LEVST.UL executive Robert Hanson, who was named chief executive in November.
The company is now buying fashion merchandise with the aim of selling out each season, as opposed to over-buying and getting stuck with unsold items that become dated, Hanson said in a conference call with analysts. "We must especially turn fashion items faster," he said.
Read Full Article from Reuters
- Posted: 2012-03-07 11:48:08
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