Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, increased 7.1% for the month compared to the corresponding period ended May 3, 2003.
Total sales for the four-week period ended May 1, 2004 include $5.7 million from the Bluenotes/Thriftys operation, compared to $5.8 million for the corresponding period last year. The 2.1% sales decrease was due primarily to a comparable store sales decrease of 8.5%, partially offset by the strengthening of the Canadian dollar compared to a year ago. The comparable store sales calculation excludes the impact of foreign currency fluctuations.
Total sales for the first quarter ended May 1, 2004 increased 19.9% to $350.0 million, compared to $291.9 million for the corresponding period ended May 3, 2003. Comparable store sales for the American Eagle Outfitters stores increased 9.8% for the first quarter. Consolidated comparable store sales, which include American Eagle and Bluenotes/Thriftys stores, increased 9.3% for the quarter.
Total sales for the first quarter include $17.8 million from the Bluenotes/Thriftys operation, compared to $15.8 million for the corresponding period last year. The 12.7% sales increase was due primarily to the strengthening of the Canadian dollar compared to a year ago, as well as a comparable store sales increase of 2.5%. The comparable store sales calculation excludes the impact of foreign currency fluctuations.
Based on strong April sales results and higher merchandise margins, the Company is raising first quarter earnings guidance to a range of $0.32 – $0.33 per share compared to $0.09 per share last year. The Company's previous first quarter earnings guidance was $0.25 – $0.30 per share.
