American Eagle Outfitters Inc. Files 2024 10-K Report

TL;DR

<b>American Eagle Outfitters Inc. filed its 2024 10-K report detailing its fiscal year operations and financial standing.</b>

AI Summary

AMERICAN EAGLE OUTFITTERS INC (AEO) filed a Annual Report (10-K) with the SEC on March 15, 2024. The filing covers the fiscal year ending February 3, 2024. The company's principal business is operating as a retailer of family clothing stores. The filing includes financial data for the fiscal years ending January 29, 2023, and January 28, 2022. Key dates mentioned include 2024-02-03 (fiscal year end) and 2024-03-15 (filing date). The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking AMERICAN EAGLE OUTFITTERS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of American Eagle Outfitters' financial performance, operational structure, and risk factors for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential future performance in the retail clothing sector.

Risk Assessment

Risk Level: medium — AMERICAN EAGLE OUTFITTERS INC shows moderate risk based on this filing. The company operates in the highly competitive retail clothing sector, which is subject to changing consumer preferences and economic conditions, as indicated by its SIC code and business description.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand American Eagle Outfitters' performance and outlook in the current retail environment.

Key Numbers

• 2024-02-03 — Fiscal Year End (Conformed Period of Report)
• 2024-03-15 — Filing Date (Filed as of Date)
• 0128 — Fiscal Year End Month/Day (Fiscal Year End)
• 113 — Public Document Count (Public Document Count)

Key Players & Entities

• AMERICAN EAGLE OUTFITTERS INC (company) — Filer name
• 0000919012 (company) — Central Index Key
• 5651 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• 2024-02-03 (date) — Fiscal year end
• 2024-03-15 (date) — Filing date
• 77 HOT METAL STREET (company) — Business Address Street 1
• PITTSBURGH (company) — Business Address City

FAQ

Risk Factors

• Market and Economic Conditions [medium — market]: The company's business is subject to general economic conditions and consumer spending, which can impact sales and profitability.
• Supply Chain and Inventory Management [medium — operational]: Effective management of supply chains and inventory is crucial to meet demand and control costs.
• Competition [medium — market]: The company operates in a highly competitive retail environment with numerous players.

Key Dates

• 2024-02-03: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-15: Filing Date — Date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document for understanding a company's financial health and operations over the past year.)

SIC Code

Standard Industrial Classification code used to classify industries. (Helps categorize the company's primary business activity (e.g., Retail-Family Clothing Stores).)

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value AEO New York Stock Exchan
• $2 billion — trategic priorities: Fueling Aerie to $2 billion in revenue; and Driving sustained pro

Filing Documents

• aeo-20240203.htm (10-K) — 3561KB
• aeo-ex10_26.htm (EX-10.26) — 69KB
• aeo-ex10_27.htm (EX-10.27) — 47KB
• aeo-ex10_28.htm (EX-10.28) — 55KB
• aeo-ex21.htm (EX-21) — 7KB
• aeo-ex23.htm (EX-23) — 8KB
• aeo-ex24.htm (EX-24) — 22KB
• aeo-ex31_1.htm (EX-31.1) — 12KB
• aeo-ex31_2.htm (EX-31.2) — 12KB
• aeo-ex32_1.htm (EX-32.1) — 7KB
• aeo-ex32_2.htm (EX-32.2) — 7KB
• aeo-ex97_1.htm (EX-97.1) — 47KB
• img30754631_0.jpg (GRAPHIC) — 53KB
• img58238722_0.jpg (GRAPHIC) — 3KB
• img59162243_0.jpg (GRAPHIC) — 3KB
• img60085764_0.jpg (GRAPHIC) — 3KB
• 0000950170-24-032294.txt (&nbsp;) — 15458KB
• aeo-20240203.xsd (EX-101.SCH) — 1977KB
• aeo-20240203_htm.xml (XML) — 3002KB

Business

Item 1. Business 4

Risk Factors

Item 1A. Risk Factors 13

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 25

Cybersecurity

Item 1C. Cybersecurity 25

Properties

Item 2. Properties 26

Legal Proceedings

Item 3. Legal Proceedings 27

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 27 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 46

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 47

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 80

Controls and Procedures

Item 9A. Controls and Procedures 80

Other Information

Item 9B. Other Information 83

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 83 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 84

Executive Compensation

Item 11. Executive Compensation 84

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 84

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 84

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 84 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 85

Form 10-K Summary

Item 16. Form 10-K Summary 88 2

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Annual Report") contains "forwardlooking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act") that are based on the views and beliefs of management, as well as assumptions and estimates made by management. Actual results could differ materially from such forwardlooking statements as a result of various risk factors, including those that may not be in the control of management. All statements other than statements of historical facts contained in this Annual Report are forward-looking statements. Words such as "estimate," "project," "plan," "believe," "expect," "anticipate," "intend," "potential," and similar expressions may identify forward-looking statements. Our forward-looking statements include, but are not limited to, statements about: the planned opening of approximately five to 15 American Eagle stores and approximately 25 to 40 Aerie and OFFLINE stores, which will be a mix of stand-alone and Aerie side-by-sides, during Fiscal 2024; the anticipated selection of approximately 60 to 80 American Eagle and Aerie stores in the United States and Canada for remodeling during Fiscal 2024; the potential closure of approximately 10 to 20 American Eagle stores at the expiration of their lease term, primarily in North America, during Fiscal 2024; the success of our core American Eagle and Aerie brands through our omni-channel and licensed outlets within North America and internationally; our plans for and shifting strategy around Quiet Platforms; the success of our business priorities and strategies; the continued validity of our trademarks; our performance during the back-to-school and holiday selling seasons; the reduction of operating expenses and capital expenditures; the accuracy of the estimates and assumptions we make pursuant to our critical a

B usiness

Item 1. B usiness. Company Overview American Eagle Outfitters, Inc. (the "Company," "AEO," "we,", "us," and "our") is a leading global specialty retailer. We operate and license nearly 1,500 retail stores worldwide and are online at www.ae.com and www.aerie.com in the United States ("U.S.") and internationally. Our brands are connected under the core tenet of REAL , which is inclusive, optimistic, and empowering and celebrates self-expression. Our purpose is to show the world that there's REAL power of optimism. We offer a broad assortment of high-quality, on-trend apparel, accessories, and personal care products at affordable prices for men and women under the American Eagle ("AE") brand, and intimates, apparel, activewear, and swim collections under the Aerie and OFFLINE by Aerie brands. We sell directly to consumers through our retail channel, which includes our stores and concession-based shops-within-shops. We operate stores in the United States, Canada, Mexico, and Hong Kong. We also have license agreements with third parties to operate American Eagle and Aerie stores and online marketplace businesses throughout Asia (including India), Europe, Latin America, and the Middle East. We also operate Todd Snyder New York ("Todd Snyder"), a premium menswear brand; Unsubscribed, which focuses on consciously made, slow fashion; and Quiet Platforms, which is a regionalized fulfillment center network. Operating Segments The Company has identified two operating segments (American Eagle brand and Aerie brand) that also represent our reportable segments and reflect the Chief Operating Decision Maker's (defined as our CEO) internal view of analyzing results and allocating resources. Additionally, our Todd Snyder and Unsubscribed brands and Quiet Platforms have been identified as separate operating segments; however, as they do not meet the quantitative thresholds for separate disclosure they are presented under the Other caption. See Note 15. "Segment Reporting,"

View Full Filing

View this 10-K filing on SEC EDGAR