American Eagle Outfitters Announces Additional 7 Million Shares Authorized for Share Repurchase Program
March 06 2007 - 5:21PM
Business Wire
American Eagle Outfitters, Inc. (NASDAQ:AEOS) today announced that
its Board of Directors authorized an additional 7 million shares
for its repurchase program. During the fourth quarter, the company
completed the repurchase of the 2.3 million shares that were
available under its previous authorizations. In fiscal 2006, the
company repurchased a total of 5.3 million shares. The Board of
Directors also declared a quarterly cash dividend of $0.075 per
share payable on April 13, 2007 to stockholders of record at the
close of business on March 30, 2007. �We are pleased that American
Eagle�s strategic initiatives and operating disciplines have
continued to drive growth and profitability. Our strong cash flow
enables us to provide additional shareholder value through an
increase in our share repurchase authorization, as well as the
continuation of our cash dividend policy,� stated Chief Executive
Officer, Jim O�Donnell. About American Eagle Outfitters: American
Eagle Outfitters, Inc. (Nasdaq:AEOS) is a leading retailer that
operates under the American Eagle Outfitters and MARTIN + OSA
brands. American Eagle Outfitters designs, markets and sells its
own brand of laidback, current clothing targeting 15 to 25
year-olds, providing high-quality merchandise at affordable prices.
AE's original collection includes standards like jeans and graphic
Ts as well as essentials like accessories, outerwear, footwear,
basics and swimwear. American Eagle currently operates 834 stores
in 50 states, the District of Columbia and Puerto Rico, and 72 AE
stores in Canada. American Eagle also operates ae.com, which offers
additional sizes and styles of favorite AE merchandise and ships
around the world. The American Eagle brand also includes a new
collection of dormwear and intimates, �aerie by American Eagle.�
aerie is available in American Eagle stores across the country and
at aerie.com. It includes bras, undies, camis, hoodies, robes,
boxers, sweats and leggings for the AE girl. Designed to be sweetly
sexy, comfortable and cozy, aerie offers AE customers a new way to
express their personal style everyday, from the dormroom to the
coffee shop to the classroom. The company introduced MARTIN + OSA,
a new sportswear concept targeting 25 to 40 year-old women and men.
MARTIN + OSA carries apparel, accessories and footwear, using denim
and sport inspiration to design fun and sport back into sportswear.
MARTIN + OSA currently operates six stores. For additional
information and updates, visit martinandosa.com. �Safe Harbor�
Statement under the Private Securities Litigation Reform Act of
1995: This release contains forward-looking statements, which
represent our expectations or beliefs concerning future events,
specifically regarding future earnings, growth and financial
position. All forward-looking statements made by the company
involve material risks and uncertainties and are subject to change
based on factors beyond the company�s control. Such factors
include, but are not limited to the risk that future earnings
expectations and growth plans may not be achieved may not be
achieved and those other risks described in the Risk Factor Section
of the company�s Form 10-K and Form 10-Q filed with the Securities
and Exchange Commission. Accordingly, the company's future
performance and financial results may differ materially from those
expressed or implied in any such forward-looking statements. The
company does not undertake to publicly update or revise its
forward-looking statements even if future changes make it clear
that projected results expressed or implied will not be realized.
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