Jan. 28, 2017
Income Statement [Abstract]
Total net revenue $ 3,609,865
Cost of sales, including certain buying, occupancy and warehousing expenses 2,242,938
Gross profit 1,366,927
Operating Expenses
Selling, general and administrative expenses 857,562
Impairment and restructuring charges 21,166
Depreciation and amortization expense 156,723
Operating income 331,476
Other income, net 3,786
Income before income taxes 335,262
Provision for income taxes 122,813
Income from continuing operations 212,449
Discontinued operations, net of tax
Net income $ 212,449
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands
American Eagle Outfitters
Income Statement
For Years Ended 2015, 2016, 2017
Common Size Percent Jan. 30, 2016 Common Size Percent Jan. 31, 2015
100.0%
$ 3,521,848
100.0%
$ 3,282,867
62.1%
2,219,114
63.0%
2,128,193
37.9%
1,302,734
37.0%
1,154,674
23.8%
834,700
23.7%
806,498
0.6%
51,220
4.3%
148,156
4.2%
141,191
9.2%
319,878
9.1%
155,765
0.1%
1,993
0.1%
3,737
9.3%
321,871
9.1%
159,502
3.4%
108,580
3.1%
70,715
5.9%
213,291
6.1%
88,787
0.0%
4,847
0.1%
(8,465)
5.9%
$ 218,138
6.2%
$ 80,322
12 Months Ended
Common Size Percent Dollar Change '17-'16 Percent Change Dollar Change '16-'15
100.0%
$ 88,017
2.5%
$ 238,981
64.8%
$ 23,824
1.1%
$ 90,921
35.2%
$ 64,193
4.9%
$ 148,060
24.6%
$ 22,862
2.7%
$ 28,202
1.6%
$ 21,166
$ (51,220)
4.3%
$ 8,567
5.8%
$ 6,965
4.7%
$ 11,598
3.6%
$ 164,113
0.1%
$ 1,793
90.0%
$ (1,744)
4.9%
$ 13,391
4.2%
$ 162,369
2.2%
$ 14,233
13.1%
$ 37,865
2.7%
$ (842)
-0.4%
$ 124,504
-0.3%
$ (4,847)
-100.0%
$ 13,312
2.4%
$ (5,689)
-2.6%
$ 137,816
Percent Change
7.3%
4.3%
12.8%
3.5%
-100.0%
4.9%
105.4%
-46.7%
101.8%
53.5%
140.2%
-157.3%
171.6%
Assets
Current assets
Cash and cash equivalents
Merchandise inventory
Accounts receivable
Prepaid expenses and other
Total current assets
Long Term Assets
Property and equipment, at cost, net of accumulated depreciation
Intangible assets, at cost, net of accumulated amortization
Goodwill
Deferred income taxes
Other assets
Total Long Term Assets
Total assets
Liabilities
Current Liabilities
Accounts payable
Accrued compensation and payroll taxes
Accrued rent
Accrued income and other taxes
Unredeemed gift cards and gift certificates
Current portion of deferred lease credits
Other liabilities and accrued expenses
Total current liabilities
Non-current Liabilities
Deferred lease credits
Non-current accrued income taxes
American Eagle Outfitters
Balance Sheet
For Years Ended 2015, 2016, 2017
Other non-current liabilities
Total non-current liabilities
Total Liabilities
Stockholders’ Equity
Preferred stock, $0.01 par value; 5,000 shares authorized; none issued and outstanding
Common stock, $0.01 par value; 600,000 shares authorized; 249,566 shares issued; 181,886 and 180,135 shares
outstanding, respectively
Contributed capital
Accumulated other comprehensive loss, net of tax
Retained earnings
Treasury stock, 67,680 and 69,431 shares, respectively, at cost
Total stockholders' equity
Total liabilities and stockholders’ equity
January 28, 2017 Common Size Percent January 30, 2016 Common Size Percent
$ 378,613 21.2% $ 260,067 16.1%
358,446 20.1% 305,178 18.9%
86,634 4.9% 80,912 5.0%
77,536 4.3% 77,218 4.8%
901,229 50.6% 723,375 44.9%
707,797 39.7% 703,586 43.6%
49,373 2.8% 51,832 3.2%
14,887 0.8% 17,186 1.1%
49,250 2.8% 64,927 4.0%
60,124 3.4% 51,340 3.2%
881,431 49.4% 888,871 55.1%
1,782,660$ 100.0% 1,612,246$ 100.0%
246,204$ 13.8% 182,789$ 11.3%
54,184 3.0% 79,302 4.9%
78,619 4.4% 77,482 4.8%
12,220 0.7% 22,223 1.4%
52,966 3.0% 48,274 3.0%
12,780 0.7% 12,711 0.8%
36,810 2.1% 40,901 2.5%
493,783 27.7% 463,682 28.8%
45,114 2.5% 50,104 3.1%
4,537 0.3% 4,566 0.3%
USD ($) $ in Thousands
American Eagle Outfitters
For Years Ended 2015, 2016, 2017
34,657 1.9% 42,518 2.6%
84,308 4.7% 97,188 6.0%
578,091 32.4% 560,870 34.8%
2,496 0.1% 2,496 0.2%
603,890 33.9% 590,820 36.6%
(36,462) -2.0% (29,868) -1.9%
1,775,775 99.6% 1,659,267 102.9%
(1,141,130) -64.0% (1,171,339) -72.7%
1,204,569 67.6% 1,051,376 65.2%
1,782,660$ 100.0% 1,612,246$ 100.0%
January 31, 2015 Common Size Percent Dollar Change 2017-2016 Percent Change
$ 410,697 24.2% 118,546 45.6%
278,972 16.4% 53,268 17.5%
67,894 4.0% 5,722 7.1%
70,477 4.2% 318 0.4%
828,040 48.8% 177,854 24.6%
698,227 41.1% 4,211 0.6%
47,206 2.8% (2,459) -4.7%
13,096 0.8% (2,299) -13.4%
73,137 4.3% (15,677) -24.1%
37,202 2.2% 8,784 17.1%
868,868 51.2% (7,440) -0.8%
1,696,908$ 100.0% 170,414 10.6%
191,146$ 11.3% 63,415 34.7%
44,884 2.6% (25,118) -31.7%
78,567 4.6% 1,137 1.5%
33,110 2.0% (10,003) -45.0%
47,888 2.8% 4,692 9.7%
12,969 0.8% 69 0.5%
50,529 3.0% (4,091) -10.0%
459,093 27.1% 30,101 6.5%
54,516 3.2% (4,990) -10.0%
10,456 0.6% (29) -0.6%
33,097 2.0% (7,861) -18.5%
$ 98,069 5.8% (12,880) -13.3%
557,162 32.8% 17,221 3.1%
$ 2,496 0.1% - 0.0%
569,675 33.6% 13,070 2.2%
(9,944) -0.6% (6,594) 22.1%
1,543,085 90.9% 116,508 7.0%
(965,566) -56.9% 30,209 -2.6%
1,139,746 67.2% 153,193 14.6%
1,696,908$ 100.0% 170,414 10.6%
Dollar Change 2016-2015 Percent Change
(150,630.00) -36.7%
26,206.00 9.4%
13,018.00 19.2%
6,741.00 9.6%
(104,665.00) -12.6%
5,359.00 0.8%
4,626.00 9.8%
4,090.00 31.2%
(8,210.00) -11.2%
14,138.00 38.0%
20,003.00 2.3%
(84,662.00) -5.0%
(8,357.00) -4.4%
34,418.00 76.7%
(1,085.00) -1.4%
(10,887.00) -32.9%
386.00 0.8%
(258.00) -2.0%
(9,628.00) -19.1%
4,589.00 1.0%
(4,412.00) -8.1%
(5,890.00) -56.3%
9,421.00 28.5%
(881.00) -0.9%
3,708.00 0.7%
- 0.0%
21,145.00 3.7%
(19,924.00) 200.4%
116,182.00 7.5%
(205,773.00) 21.3%
(88,370.00) -7.8%
(84,662.00) -5.0%
Consolidated Statements of Cash Flows - USD ($)
Operating activities: Jan. 28, 2017
Net income $ 212,449,000
(Gain) loss from discontinued operations, net of tax
Income from continuing operations 212,449,000
Adjustments to reconcile net income to net cash provided by operating
activities
Depreciation and amortization 158,174,000
Share-based compensation 29,137,000
Deferred income taxes 14,838,000
Foreign currency transaction (gain) loss (835,000)
Loss on impairment of assets 20,576,000
Gain on sale of assets
Changes in assets and liabilities:
Merchandise inventory (53,613,000)
Accounts receivable (7,705,000)
Prepaid expenses and other (332,000)
Other assets (6,705,000)
Accounts payable 52,347,000
Unredeemed gift cards and gift certificates 4,465,000
Deferred lease credits (5,229,000)
Accrued compensation and payroll taxes (25,809,000)
Accrued income and other taxes (10,695,000)
Accrued liabilities (15,467,000)
Total adjustments 153,147,000
Net cash provided by operating activities from continuing operations 365,596,000$
Investing activities:
Capital expenditures for property and equipment (161,494,000)
Acquisitions and purchase of long-lived assets in business combination
Proceeds from sale of assets
Acquisition of intangible assets (1,528,000)
Sale of available-for-sale securities
Net cash used for investing activities from continuing operations (163,022,000)$
Financing activities:
Payments on capital leases and other (4,375,000)
Repurchase of common stock as part of publicly announced programs
Repurchase of common stock from employees (7,032,000)
American Eagle Outfitters
Statement of Cash Flows
For Years Ended 2015, 2016, 2017
Net proceeds from stock options exercised 16,260,000
Excess tax benefit from share-based payments 763,000
Cash dividends paid (90,680,000)
Net cash used for financing activities from continuing operations (85,064,000)
Effect of exchange rates on cash 1,036,000$
Cash flows of discontinued operations
Net cash (used for) provided by operating activities
Net cash (used for) provided by discontinued operations
Net increase (decrease) in cash and cash equivalents 118,546,000
Cash and cash equivalents - beginning of period 260,067,000
Cash and cash equivalents - end of period 378,613,000$
Jan. 30, 2016 Jan. 31, 2015 Dollar Change 2017-2016 Percent Change Dollar Change 2016-2015
$ 218,138,000 $ 80,322,000
(5,689,000)
-2.6%
137,816,000
(4,847,000) 8,465,000
4,847,000
-100.0%
(13,312,000)
213,291,000 88,787,000
(842,000)
-0.4%
124,504,000
148,858,000 142,351,000
9,316,000
6.3%
6,507,000
34,977,000 16,070,000
(5,840,000)
-16.7%
18,907,000
4,680,000 (2,279,000)
10,158,000
217.1%
6,959,000
2,977,000 (495,000)
(3,812,000)
-128.0%
3,472,000
0 33,468,000
20,576,000
(33,468,000)
(9,422,000)
9,422,000
-100.0%
(9,422,000)
(22,259,000) 8,586,000
(31,354,000)
140.9%
(30,845,000)
(10,093,000) 3,084,000
2,388,000
-23.7%
(13,177,000)
(7,027,000) 14,282,000
6,695,000
-95.3%
(21,309,000)
(10,017,000) 6,612,000
3,312,000
-33.1%
(16,629,000)
(3,189,000) (5,280,000)
55,536,000
-1741.5%
2,091,000
755,000 1,238,000
3,710,000
491.4%
(483,000)
(4,099,000) (4,528,000)
(1,130,000)
27.6%
429,000
34,234,000 20,716,000
(60,043,000)
-175.4%
13,518,000
(17,615,000) 24,826,000
6,920,000
-39.3%
(42,441,000)
(14,133,000) (9,012,000)
(1,334,000)
9.4%
(5,121,000)
128,627,000 249,639,000
24,520,000
19.1%
(121,012,000)
341,918,000$ 338,426,000$
23,678,000
6.9%
3,492,000
(153,256,000) (245,002,000)
(8,238,000)
5.4%
91,746,000
(10,442,000)
10,442,000
-100.0%
(10,442,000)
12,579,000
(12,579,000)
-100.0%
12,579,000
(2,382,000) (1,264,000)
854,000
-35.9%
(1,118,000)
10,002,000
-
(10,002,000)
(153,501,000)$ (236,264,000)$
(9,521,000)
6.2%
82,763,000
(7,635,000) (7,143,000)
3,260,000
-42.7%
(492,000)
(227,071,000)
227,071,000
-100.0%
(227,071,000)
(5,163,000) (7,464,000)
(1,869,000)
36.2%
2,301,000
12 Months Ended
7,283,000 7,305,000
8,977,000
123.3%
(22,000)
657,000 742,000
106,000
16.1%
(85,000)
(97,237,000) (97,224,000)
6,557,000
-6.7%
(13,000)
(329,166,000) (103,784,000)
244,102,000
-74.2%
(225,382,000)
(3,076,000)$ (7,578,000)$
4,112,000
-133.7%
4,502,000
(6,805,000) 963,000
6,805,000
-100.0%
(7,768,000)
(6,805,000) 963,000
6,805,000
-100.0%
(7,768,000)
(150,630,000) (8,237,000)
269,176,000
-178.7%
(142,393,000)
410,697,000 418,933,000
(150,630,000)
-36.7%
(8,236,000)
260,067,000$ 410,697,000$
118,546,000
45.6%
(150,630,000)
Percent Change
171.6%
-157.3%
140.2%
4.6%
117.7%
-305.4%
-701.4%
-100.0%
-359.2%
-427.3%
-149.2%
-251.5%
-39.6%
-39.0%
-9.5%
65.3%
-171.0%
56.8%
-48.5%
1.0%
-37.4%
88.4%
-100.0%
-35.0%
6.9%
-30.8%
-0.3%
-11.5%
0.0%
217.2%
-59.4%
-806.6%
-806.6%
1728.7%
-2.0%
-36.7%
901,229
Current Assets
493,783
Current Liabilities
Acid-Test Ratio =
823,693
Cash+ Short-term Invest+ Current Rec.
493,783
Current Liabilities
AR Turnover =
3,609,865
Sales
83,773
Average AR
Days Sales Uncollected =
86,634
AR
*365
3,609,865
Net Sales
Inventory turnover =
2,242,938
COGS
331,812
Average Inventory
Total Asset Turnover =
3,609,865
Sales
1,782,660
Total Assets
Debt to Equity =
578,091
Total liabilities
1,204,569
Shareholders' Equity
Profit Margin =
212,449
Net Income
3,609,865
Net Sales
Return on Total Assets =
335,262
Net Income+Interest Expense+Taxes
1,782,660
Total Net Assets
Earnings per Share (EPS) =
212,449
Net Income
183,835
Outstanding Common Shares
Current Ratio =
723,375
Current Assets
463,682
Current Liabilities
Acid-Test Ratio =
646,157
Cash+ Short-term Invest+ Current Rec.
Current Ratio =
American Eagle Outfitters
Ratio Analyses
For Years 2015, 2016, 2017
2017 Ratio Analysis
2016 Ratio Analysis
463,682
Current Liabilities
AR Turnover =
3,521,848
Sales
74,403
Ave. AR
Days Sales Uncollected =
80,912
AR
*365
3,521,848
Net Sales
Inventory turnover =
2,219,114
COGS
292,075
Ave. Inventory
Total Asset Turnover =
3,521,848
Sales
1,612,246
Total Assets
Debt to Equity =
578,091
Total liabilities
1,051,376
Shareholders' Equity
Profit Margin =
218,138
Net Income
3,521,848
Net Sales
Return on Total Assets =
326,718
Net Income+Interest Expense+Taxes
1,612,246
Total Net Assets
Earnings per Share (EPS) =
218,138
Net Income
196,237
Outstanding Common Shares
Current Ratio =
828,040
Current Assets
459,093
Current Liabilities
Acid-Test Ratio =
757,563
Cash+ Short-term Invest+ Current Rec.
459,093
Current Liabilities
Days Sales Uncollected =
67,894
AR
*365
3,282,867
Net Sales
Debt to Equity =
557,162
Total liabilities
1,139,746
Shareholders' Equity
Profit Margin =
80,322
Net Income
3,282,867
Net Sales
2015 Ratio Analysis
Earnings per Share (EPS) =
80,322
Net Income
195,135
Outstanding Common Shares
= 1.6681275
= 43.0910317
= 8.75972093
= 6.75966511
=
2.02498794
= 0.47991522
=
0.05885234
= 0.18806839
= 1.15565045
=
1.56006703
= 1.39353479
=1.82515194
= 47.334758
= 8.38562028
= 7.597754
=
2.18443587
= 0.5498423
=
0.06193851
= 0.20264773
= 1.11160485
=
1.80364327
= 1.65012971
= 7.54867925
= 0.48884752
=
0.02446703
= 0.41162272
