American Eagle Outfitters points to pent-up demand and stimulus for strong results

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.