PITTSBURGH — American Eagle Outfitters, Inc. (NYSE: AEO) announced plans to strengthen its market position in Japan, which includes a mutual termination of the license agreement with Eagle Retailing Corporation, a partnership of Aoyama Corporation and Nippon Steel Trading Company, established in 2010.
With over 30 American Eagle stores and a digital business in Japan, AEO is committed to continued growth in the Japanese market. The company is exploring options for its future business model and is taking steps to reposition its distribution channels to best serve customers. This includes accelerating growth of our intimates brand, Aerie across Japan, investing in the American Eagle experience with its award-winning new store concept, while putting a greater emphasis on growing digital. We will also explore new channels of distribution and evaluate opportunities for new concepts, including the sneaker consignment brand, Urban Necessities. The Omotesando and Ikebukuro locations will close, as we look to better position our business for future success.
Andrew McLean, Executive Vice President and Chief Commercial Officer commented, “Japan is an incredibly important market and AEO is here to stay. Within this exciting consumer fashion market, we’ve seen a strong appetite for American Eagle’s signature jeans and our brand platform of individual self-expression is perfect for the Japanese youth culture. Aerie presents an exciting new growth opportunity by tapping into the underserved body positivity movement within Japan. We thank our partners at Eagle Retailing for establishing a strong brand presence and we look forward to our next chapter of growth.”
AEO Facts:
- AEO is a highly profitably leading specialty retailer with consistent growth fueled by 17 consecutive quarters of positive comparable sales and $4 billion of annual revenues.
- The American Eagle brand is the #1 U.S. jeans brand for 15 to 25 year olds and continues to introduce exciting jeans innovation, including AirFlex and Ne(X)t Level Jeans.
- Aerie, a leading intimates brand, has emerged as one of the fastest growing new concepts with 18 straight quarters of double digit growth.
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle® and Aerie® brands. The company operates more than 1,000 stores in the United States, Canada, Mexico and Hong Kong, and ships to 81 countries worldwide through its websites. American Eagle and Aerie merchandise also is available at more than 200 international locations operated by licensees in 24 countries. For more information, please visit www.aeo-inc.com.
CONTACT:
Olivia Messina
412-432-3300
