American Eagle Outfitters, Inc. (NYSE:AEO) Q2 2023 Earnings Call Transcript

Jen Foyle: I can answer that. That is correct, yes, yes. And just as I think about just the pace of the – I mean the turns, right, it’s just amazing how women’s is turning, and it should turn fast. We’re up to getting at tops, and tops turn a lot faster than bottoms. And there’s been some channel shifts. The new direct – the direct business and this team, what they’re able to – we’re really seeing a dramatic improvement on that channel. And we’re up to making sure that we can maximize that channel and moving our best stores fast and getting back into goods. The team has been at it every day, Marni. I mean every day, we have new learnings. So there’s not a day that goes by that we’re not chasing. We definitely beat plan early on, as I mentioned early on.

At the end of June, we were starting getting in new receipts. And so we’ve been chasing that. We exceeded plan, and now we’re up to getting back on what we think is our new plan and making sure that we can deliver this number.

Marni Shapiro: Do you feel the fashion is balanced so for holiday? Or is that less of a –

Jen Foyle: I do.

Marni Shapiro: Okay. Fantastic. I’ll take the rest later.

Jen Foyle: I feel good about that. And in men’s too, Marni, we had to reset in men’s. And I just saw the holiday delivery, and it feels way more balanced. We have outerwear. We have categories that we hadn’t been in business in. So we’re pretty excited about the offerings that are coming. It’s exciting.

Marni Shapiro: That’s exciting. Thanks so much, guys.

Jen Foyle: Thank you.

Operator: Thank you. There are no further questions at this time. And I would like to turn the floor back over to Mr. Jay Schottenstein for closing comments.

Jay Schottenstein: All right. Thank you. Our brands are strong, and we remain focused on unlocking additional growth and profit moving forward. Thank you for joining the call and I look forward to updating you on our next – look forward to updating you as far as our progress next quarter. Thank you.

Operator: Thank you. This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation