American Eagle Outfitters: Difference between revisions
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Revision as of 20:20, 4 November 2008
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| AEO Logo | |
| Company type | Public (NYSE: AEO) |
|---|---|
| Industry | Retail |
| Founded | 1977 |
| Headquarters | |
Area served |  United States Canada |
Key people | Jay L. Schottenstein (Chairman) James V. O'Donnell (CEO) Roger S. Markfield (Vice Chairman) Susan P. McGalla (President & CMO) |
| Products | Apparel, footwear, accessories |
| Revenue |  $3.7 billion USD (2007) |
Number of employees | 20,600 (2005) |
| Parent | Retail Ventures |
| Website | www.ae.com |
American Eagle Outfitters (NYSE: AEO) is an American clothing and accessories retailer based in the South Side neighborhood of Pittsburgh, Pennsylvania. It was founded in 1977 by Mark and Jerry Silverman as a subsidiary of Retail Ventures, Inc., a company which also owned and operated Silverman's Menswear. The Silvermans sold their ownership interests in 1991. At one time, it sold brands such as OshKosh B'Gosh in the early 1980s, similar to Gap selling Levi's.
American Eagle (also known as Am. Eagle, A.E., æ and A.E. Outfitters)[citation needed] targets older teens and young adults.[citation needed] Some of the best selling products of American Eagle Outfitters are Low-rise jeans, Polo Shirts, Graphic T-shirts (with the AE logo and year established), and swimwear.[citation needed]
Other brands
In addition to its namesake brand, the company has developed and announced plans for several new brand and concept initiatives poised to drive new growth as the brand nears saturation in current markets.
The company's second stand-alone lifestyle concept, Martin + Osa, launched in the fall of 2006, targets men and women from 28 to 40 years of age. It's a higher end store similar to Banana Republic but with a cooler edge. It features Cashmere sweaters and casual clothing for a much older target audience. They also sell products by Fred Perry, Adidas, Onitsuka Tiger, HOBO International, among others. The prices range is in the higher end of 20-200+
In 1999, the company acquired a Canada-based retail concept called Bluenotes, which has approximately 100 stores averaging 3,300 square feet. The concept targeted a slightly younger demographic, ages 12-25, and was positioned as a denim-driven urban/suburban lifestyle brand. Due largely to poor performance, the Bluenotes business was sold to YM Inc. in 2001.
aerie
The aerie intimates sub-brand was announced in February 2006, targeting American's 15- to 25-year-old female demographic segment. In addition to intimates, it also sells dormwear and active apparel, aiming for a "dynamic assortment which takes the AE girl from dorm room to the coffee shop". aerie's Bras are all given girl names. Undies, loungewear, sleepwear and athletic apparel are all part of the aerie by American Eagle line. [1]
77 kids
American Eagle released plans in January 2008, to launch "77 kids," a line of clothing aimed at children from infant to 10 years. Currently, the brand's website [1] has an email subscription service for notification about the store's opening. According to an email sent to subscribers on August 7th, 2008, shopping on its website would begin in "77 days"; in other words on October 23rd, 2008. People who signed up for the email service were given an email at 6:11 PM. [citation needed]
Online shopping currently is the only way to purchase the 77 kids merchandise, but they are planning to open retail stores. Earlier rumours stated that there are plans for physical 77 kids stores to be in place in 2010, but as said from other resources, most likely the first ever 77kids physical store will open for business around February 2009.[citation needed]
Criticism
In 2007, textile and apparel workers union UNITE HERE launched the "American Vulture" back-to-school boycott of American Eagle [2] in protest of alleged workers' rights violations at the company's Canadian distribution contractor National Logistics Services (NLS). On the 2007 second quarter conference call[3], CEO James O'Donnell clarified the American Eagle's relationship with NLS and its effect on business. He explained, "We owned NLS with the acquisition of Braemar back in 2000 and we subsequently sold off NLS in 2006, and we are currently a customer of NLS... We have really no involvement at all with Unite Here and NLS. Our only involvement with NLS is basically as a customer and there have been some allegations made I think to some of, to the public about it affecting our business. I can tell you right now it has not affected our business."
Company growth
American Eagle expanded internationally by entering into Canada. A second store is open in the White Oaks Mall in London, Ontario, after acquiring some Dylex divisions in 2000 (Thrifty's, Braemar, & National Logistics). There are now American Eagle stores open all across Canada.
In 2006, 42 new American Eagle stores opened and 65 remodels were completed. Together with five new MARTIN + OSA stores and three new aerie stand-alone test stores, total gross square footage increased 8% for the year. In 2007, the company plans to open 45 to 50 more American Eagle, at least 15 aerie stand-alone, and approximately 12 new MARTIN + OSA stores. Additionally, approximately 45 American Eagle store remodels are planned which, combined with new store openings, will generate total 2007 square footage growth of approximately 10%.[citation needed]
References
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External links
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