American Eagle Outfitters (NASDAQ:AEOS)
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American Eagle Outfitters, Inc. (NASDAQ:AEOS) today announced that its
Board of Directors authorized an additional 7 million shares for its
repurchase program. During the fourth quarter, the company completed the
repurchase of the 2.3 million shares that were available under its
previous authorizations. In fiscal 2006, the company repurchased a total
of 5.3 million shares.
The Board of Directors also declared a quarterly cash dividend of $0.075
per share payable on April 13, 2007 to stockholders of record at the
close of business on March 30, 2007.
“We are pleased that American Eagle’s
strategic initiatives and operating disciplines have continued to drive
growth and profitability. Our strong cash flow enables us to provide
additional shareholder value through an increase in our share repurchase
authorization, as well as the continuation of our cash dividend policy,”
stated Chief Executive Officer, Jim O’Donnell.
About American Eagle Outfitters:
American Eagle Outfitters, Inc. (Nasdaq:AEOS) is a leading retailer that
operates under the American Eagle Outfitters and MARTIN + OSA brands.
American Eagle Outfitters designs, markets and sells its own brand of
laidback, current clothing targeting 15 to 25 year-olds, providing
high-quality merchandise at affordable prices. AE's original collection
includes standards like jeans and graphic Ts as well as essentials like
accessories, outerwear, footwear, basics and swimwear. American Eagle
currently operates 834 stores in 50 states, the District of Columbia and
Puerto Rico, and 72 AE stores in Canada. American Eagle also operates
ae.com, which offers additional sizes and styles of favorite AE
merchandise and ships around the world. The American Eagle brand also
includes a new collection of dormwear and intimates, “aerie
by American Eagle.” aerie is available
in American Eagle stores across the country and at aerie.com. It
includes bras, undies, camis, hoodies, robes, boxers, sweats and
leggings for the AE girl. Designed to be sweetly sexy, comfortable and
cozy, aerie offers AE customers a new way to express their
personal style everyday, from the dormroom to the coffee shop to the
classroom.
The company introduced MARTIN + OSA, a new sportswear concept targeting
25 to 40 year-old women and men. MARTIN + OSA carries apparel,
accessories and footwear, using denim and sport inspiration to design
fun and sport back into sportswear. MARTIN + OSA currently operates six
stores. For additional information and updates, visit martinandosa.com.
“Safe Harbor”
Statement under the Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements, which represent our
expectations or beliefs concerning future events, specifically regarding
future earnings, growth and financial position. All forward-looking
statements made by the company involve material risks and uncertainties
and are subject to change based on factors beyond the company’s
control. Such factors include, but are not limited to the risk that
future earnings expectations and growth plans may not be achieved may
not be achieved and those other risks described in the Risk Factor
Section of the company’s Form 10-K and Form
10-Q filed with the Securities and Exchange Commission. Accordingly, the
company's future performance and financial results may differ materially
from those expressed or implied in any such forward-looking statements.
The company does not undertake to publicly update or revise its
forward-looking statements even if future changes make it clear that
projected results expressed or implied will not be realized.