PITTSBURGH -- (Business Wire)
American Eagle Outfitters, Inc. (NYSE:AEO) today announced that it has
agreed to a mutual termination of its license agreement in China, Hong
Kong and surrounding markets with Dickson Concepts (International)
Limited. Consistent with its long-term global expansion strategy and the
importance of this market, the company took the opportunity to exit its
agreement and will assume operation of six existing stores in China and
“As we look toward future global expansion, Greater China presents an
important growth market with sizeable economic potential, where a
company-owned model is preferred for our brands. We thank Dickson Poon
and his team for their contributions these past few years," said CEO,
Robert Hanson. “Our global expansion plans include a blend of
company-owned stores, joint ventures and licensed agreements. We believe
this approach will provide the very best brand and product driven
omni-channel customer experience, while also providing strong returns to
American Eagle Outfitters will be opening company-owned stores in Mexico
and licensed stores in the Philippines beginning this month, and has
successfully licensed stores in Japan, Russia, Eastern Europe, Israel
and the Middle East. American Eagle Outfitters currently has
international presence in 13 countries and ships online to 77 countries.
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global
specialty retailer offering high-quality, on-trend clothing, accessories
and personal care products at affordable prices under its American Eagle
Outfitters® and Aerie® brands. The company operates more than 1,000
stores in North America, and ships to 77 countries worldwide through its
websites. American Eagle Outfitters and Aerie merchandise also is
available at approximately 50 international franchise stores in 13
countries. For more information, please visit www.ae.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 our global expansion strategy. 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 the company’s operating, financial and capital plans may not be
achieved and the 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.
American Eagle Outfitters Inc.
Judy Meehan, 412-432-3369
Source: American Eagle Outfitters
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