American Eagle Outfitters, Inc. (NYSE: AEO) today announced the pricing on April 22, 2020 of its offering of $400,000,000 aggregate principal amount of 3.75% convertible senior notes due 2025 (the "notes") in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). AEO also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional $60 million aggregate principal amount of notes in the private placement. The issuance and sale of the notes is scheduled to settle on or about April 27, 2020, subject to customary closing conditions.
American Eagle Outfitters' (NYSE: AEO) stock plunged nearly 70% over the past 12 months as the apparel retailer grappled with slowing sales growth, contracting margins, and the COVID-19 pandemic. It also closed its stores, deferred its dividend payment, and recently priced a new offering of convertible notes to cope with the crisis.
As American retail reopens, it’s once again an odd mosaic of who is choosing to get back in the store business…and who is still sitting it out for a while longer
American Eagle Outfitters Inc. will begin allowing its customers to pick up their e-commerce orders from the fashion retailer curbside outside its stores by the end of the month.
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LB reports earnings after hours.The coronavirus and headwinds at Victoria's Secret could cause revenue and EBITDA to fall hard.Its $1.5 billion in liquidity could become stretched if revenue falls sharply.If its EBITDA falls, then the company's credit metrics…
Shares of American Eagle Outfitters Inc (NYSE: AEO) are trading at attractive valuation levels, the company has enough liquidity to operate even if all its stores remain closed for the next 12 months, according to Raymond James.The American Eagle Analyst Matthew McClintock upgraded American Eagle Outfitters from Market Perform to Outperform, setting a price target of $10.The American Eagle Thesis American Eagle Outfitters issuing convertible debt at this time "is a huge signal of strength," McClintock said in the Wednesday upgrade note. (See his track record here.)The solid liquidity status positions the company well for gaining substantial market share as the COVID-19 crisis ends, as it can use its cash rich position in an industry that is mostly cash poor, the analyst said. The analyst said he expects American Eagle Outfitters to emerge as a market share consolidator after the pandemic is over. While the company is among the top three in terms of market share in both U.S. denim and specialty intimates, its growth rates in each of these businesses are more attractive than other leaders, McClintock said. American Eagle Outfitters has recently taken initiatives to drive digital traffic and conversion at a time when "digital leadership could separate COVID-19 winners from losers," the analyst said. AEO Price Action Shares of American Eagle Outfitters were up 2.69% at $7.44 at the time of publication Wednesday. Latest Ratings for AEO DateFirmActionFromTo May 2020Raymond JamesUpgradesMarket PerformOutperform Apr 2020UBSMaintainsBuy Apr 2020Morgan StanleyMaintainsUnderweight View More Analyst Ratings for AEO View the Latest Analyst Ratings See more from Benzinga * PG&E Analyst Sees Buying Opportunity In Bankrupt California Utility's Shares * Harley-Davidson's 'Rewire' Plan Turns Argus Bullish * L Brands Has Value Without Victoria's Secret Deal, BMO Says In Upgrade(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Jefferies Analyst Simon Powell joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss Jefferies’ Armchair Economics Survey and break down how consumers are coping with the coronavirus crisis.
PITTSBURGH--(BUSINESS WIRE)--American Eagle Outfitters (NYSE: AEO) will report its first quarter 2020 results by press release before the market open on Wednesday, June 3, 2020. The company will also host a summary of AEO Inc.’s first quarter results with a l…
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B. Riley analyst Susan Anderson expects earnings for the specialty retailers in her coverage to be slightly better than consensus, as sales have “rebounded significantly from mid-March lows.”
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Shares of several retail-chain operators were trading higher on Monday, amid a broad-based market rally driven by promising news from an early COVID-19 vaccine trial. While the data is very preliminary, and an approved, mass-produced vaccine is still many months away (at best), investors took it as good news and bid up shares of many companies that have been hit hard over the last couple of months. American Eagle Outfitters said in early May that it had reopened 43 of its brick-and-mortar stores and that it planned to have about 600 locations open by the end of May. The company raised a bit over $400 million via a bond offering in late April to bolster its balance sheet until all of its stores reopen.
American Eagle (AEO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
PVH's debt-to-EBITDA ratio is at 3, almost triple that of its competitors.The men's business could be a highlight in the business as it is more price competitive and it has the brand asset behind it.They are a premium retailer with a financially challenged co…
Gap has struggled across its brands lately with few clear signs of a long planned turnaround.The advent of coronavirus will significantly impact the business although we project the company has sufficient liquidity to weather the storm.The recent decline in s…
LB's revenue fell 37% Y/Y and EBITDA turned negative.The cutting is permanently closing hundreds of Victoria's Secret stores, which should cut occupancy costs.Its paltry is liquidity, and it could worsen until the economy fully reopens.LB's credit metrics are…
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American Eagle Outfitters (NYSE: AEO) will report its first quarter 2020 results by press release before the market open on Wednesday, June 3, 2020.
Apparel retailer American Eagle Outfitters pulled its 2020 outlook because of covid-19's effects on its results and "uncertainty related to its duration."
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Lifestyle-apparel company American Eagle Outfitters (NYSE: AEO) reopened slightly less than four dozen of its various brand stores this week, less than half a percent of its approximately 1,000 retail outlets. The openings still represent the first opportunity for customers to shop directly in American Eagle's aisles since the company shuttered its stores on March 18. Customers venturing back into American Eagle brick-and-mortar locations will find a battery of health and safety measures in place to help reassure them of a reduced coronavirus risk.
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