American Eagle Forecasts Higher Spending for Fiscal 2021
American Eagle 0utfitters store front. Shutterstock.
American Eagle Outfitters Inc forecast higher spending for fiscal 2021 on Wednesday, as the apparel retailer plans supply chain investments to ensure fast delivery and easy shopping for consumers making online purchases.
The company said it expects annual capital expenditure to be in the range of $250 million to $275 million, up from $128 million in 2020.
Aerie, the company’s most popular brand, recorded a revenue rise of 25 percent in the fourth quarter ended Jan. 30 from a year earlier, while revenue at the American Eagle label fell 9 percent.
Digital revenue surged 35 percent surged, helped by features such as same-day delivery and curbside pickup.
