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Segment Reporting | 3 Months Ended
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May 03, 2025
Segment Reporting [Abstract] |
Segment Reporting | 12. Segment Reporting In accordance with ASC 280, Segment Reporting ("ASC 280"), the Company has identified two operating segments (American Eagle brand and Aerie brand) that also represent our reportable segments and reflect the CODM’s internal view of analyzing results and allocating resources. Additionally, our Todd Snyder brand, Unsubscribed brand, and Quiet Platforms have been identified as separate operating segments; however, as they do not meet the quantitative thresholds for separate disclosure, they are presented under the "Other" caption, as permitted by ASC 280. Unallocated corporate expenses are comprised of general and administrative costs that management does not attribute to any of our operating segments. These costs primarily relate to corporate administration, information and technology resources, finance and human resources functional and organizational costs, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from corporate-level activities and projects. Our CEO analyzes segment results and allocates resources between segments based on the adjusted operating income (loss), or the operating income (loss) in periods where there are no adjustments, of each segment. Adjusted operating income (loss) is a non-GAAP financial measure ("non-GAAP" or "adjusted") that is defined by the Company as operating income excluding impairment and restructuring charges. Adjusted operating income (loss) is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to similar measures presented by other companies. Non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. We believe that this non-GAAP information is useful as an additional means for investors to evaluate our operating performance, when reviewed in conjunction with our GAAP consolidated financial statements and provides a higher degree of transparency. Reportable segment information is presented in the following tables:
For the 13 weeks ended May 3, 2025 (In thousands) |  | American Eagle |  |  | Aerie |  |  | Other |  |  | Intersegment Elimination |  |  | Total |
Net Revenue |  | $ | 693,865 |  |  | $ | 359,788 |  |  | $ | 43,970 |  |  | $ | (8,024 | ) |  | $ | 1,089,599 |
Cost of sales, including certain buying, occupancy and warehousing costs |  |  | 455,896 |  |  |  | 261,927 |  |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses |  |  | 168,329 |  |  |  | 82,643 |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 20,168 |  |  |  | 14,170 |  |  |  |  |  |  |  |  |  |
Total segment operating income |  | $ | 49,472 |  |  | $ | 1,048 |  |  | $ | (13,169 | ) |  | $ | - |  |  | $ | 37,351 |
Unallocated corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (105,413 | )
Impairment and restructuring charges (1) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (17,119 | )
Total operating (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (85,181 | )
Interest (income), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (219 | )
Other (income), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (351 | )
(Loss) before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (84,611 | )
(1) Refer to Note 13, Impairment and Restructuring Charges, to the Consolidated Financial Statements for additional information.
For the 13 weeks ended May 4, 2024 (In thousands) |  | American Eagle |  |  | Aerie |  |  | Other |  |  | Intersegment Elimination |  |  | Total |
Net Revenue |  | $ | 724,744 |  |  | $ | 372,652 |  |  | $ | 54,984 |  |  | $ | (8,513 | ) |  | $ | 1,143,867 |
Cost of sales, including certain buying, occupancy and warehousing costs |  |  | 408,388 |  |  |  | 217,162 |  |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses |  |  | 160,195 |  |  |  | 78,909 |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 17,576 |  |  |  | 15,254 |  |  |  |  |  |  |  |  |  |
Total segment operating income |  | $ | 138,585 |  |  | $ | 61,327 |  |  | $ | (14,848 | ) |  | $ | - |  |  | $ | 185,064 |
Unallocated corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (107,228 | )
Total operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 77,836 |
Interest (income), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,439 | )
Other (income), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,396 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 82,671 |
| 13 Weeks Ended |
| May 3, |  |  | May 4, |
| 2025 |  |  | 2024 |
Capital Expenditures |  |  |  |  |
American Eagle | $ | 18,933 |  |  | $ | 12,634 |
Aerie | $ | 17,925 |  |  | $ | 11,741 |
Other | $ | 10,173 |  |  | $ | 2,864 |
General corporate expenditures | $ | 14,575 |  |  | $ | 8,970 |
Total Capital Expenditures | $ | 61,606 |  |  | $ | 36,209 |
We do not allocate assets to the reportable segment level and therefore our CEO does not use segment asset information to make decisions. Total net revenue for the American Eagle and Aerie reportable segments in the table above represents revenue attributable to each brand's merchandise, which comprises approximately 97% of total net revenue for the 13 weeks ended May 3, 2025. The following table presents summarized geographical information:
| 13 Weeks Ended |
(In thousands) | May 3, 2025 |  |  | May 4, 2024 |
Total net revenue: |  |  |  |  |
United States | $ | 921,512 |  |  | $ | 952,685 |
Foreign (1) |  | 168,087 |  |  |  | 191,182 |
Total net revenue | $ | 1,089,599 |  |  | $ | 1,143,867 |
(1) Amounts represent sales from American Eagle and Aerie international retail stores, e-commerce sales that are billed to and/or shipped to foreign countries and international franchise royalty revenue.
|  | 13 Weeks Ended |
|  | May 3, |  |  | May 4, |
(In thousands) |  | 2025 |  |  | 2024 |
Long-lived assets, net: |  |  |  |  |  |
United States |  | $ | 2,065,144 |  |  | $ | 1,673,059 |
Foreign |  |  | 172,155 |  |  |  | 154,141 |
Total long-lived assets, net |  | $ | 2,237,299 |  |  | $ | 1,827,200 |

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