American Eagle says it's seeing 'more than our fair share of pent-up demand,' shares soar
"We think we are getting more than our fair share of pent-up demand," CFO Mike Mathias told analysts.
Management said that, as stores reopen during the coronavirus pandemic, sales are averaging an impressive metric of roughly 95% of their normal levels.Matthew Mitchell, center, talks with customers as Sierra Phillips adjusts a denim display at the American Eagle/Aerie store at Easton Town Center in Columbus, Ohio on May 15, 2020.thinks it is the best retailer in the mall. And it's stock is soaring.
"We think we are getting more than our fair share of pent-up demand," American Eagle Chief Financial Officer Mike Mathias said Wednesday morning during an earnings conference call with analysts, explaining how sales are bouncing back quicker than expected amid the Covid-19 crisis. "And there was a lot of stimulus," he went on. "We had competitors close ... but clearly we're the strongest store in the mall, and our customers are continuing to come to us."Management explained that as stores reopen during the, sales are averaging an impressive metric of roughly 95% of their normal levels. American Eagle said it has opened 556 locations to date. It has nearly 1,100 in total.
The strong recovery as American Eagle's flagship apparel shops and Aerie lingerie locations reopen in malls across the country aligns with what rival
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