American Eagle Outfitters points to pent-up demand and stimulus for strong results
May 27, 2021
American Eagle Outfitters Inc. saw its revenues increase as consumers used federal stimulus checks to buy jeans and tops from the retailer. Increased demand allowed American Eagle to reduce promotional pricing, which saw its gross margin grow to 42.2 percent, up from 36.7 percent during the same period in 2019. The retailer continued to generate strong online sales, up 57 percent, even as more of its customers shopped in its stores.
Recent News
Kentucky Derby Celebration Spots in Las Vegas and Goldbelly Home Delivery
Las Vegas, though miles away from Louisville, gears up for the Kentucky Derby with a range of special offerings. From viewing parties to themed cocktails, the city joins the celebration of the sesquicentennial Run for the Roses. If you’re a resident of Kentucky, you can get Ready for the Kentucky Derby with Goldbelly.
New Nintendo Theme Park to Open in Orlando
It’s set to open in 2025.
Novo Noradisk Announces $6B Investment in Ozempic, Wegovy Amid Shortages
The money will help meet increased demand for the drugs.
EV Battery Tax Credit Rules Change in the US
The U.S. government has made some tweaks to electric vehicle (EV) tax credits, possibly paving the way for more EVs to qualify for credits of up to $7,500. These tax credits range from $3,750 to $7,500 for new EVs, with a $4,000 credit available for used ones.