Investor Presentaiton
"This is an unprecedented time in retail. As we cycle exceptional demand from last year, a tougher
macro environment is impacting consumer spending behavior. Second quarter performance
reflected these challenges, constraining revenue and amplifying margin pressure as we fully cleared
through excess spring and summer goods," commented Jay Schottenstein, AEO's Executive
Chairman of the Board and Chief Executive Officer.
"In a shifting macro environment, we are focused on controlling the controllables. We entered the
second half with inventory levels in a much better position and an assortment that is current for the
Fall season. Given ongoing external uncertainties, we have taken additional actions to improve
financial performance. We have made more expansive expense reductions and are pulling back
further on capital expenditures. As an additional cautionary move, we have paused our quarterly
cash dividend to strengthen our cash position. Our brands and products remain highly relevant and
sought after by our customers. I am confident we will successfully navigate current challenges, and
set AEO
up
for a stronger future."
Jay Schottenstein
AEO's Executive Chairman of the Board and Chief Executive Officer
AEO INC.View entire presentation