American Eagle Outfitters

Revenue has hovered near 5.0 to 5.6 billion since fiscal 2022, with Aerie supplying steadier multi‑year growth and AE more cyclical.

We estimate TTM revenue around 5.60 billion after Q1 fiscal 2026. Seasonality is pronounced and fashion risk remains, but management’s three‑year strategy (announced in 2024) targeted a path to 5.7 to 6.0 billion revenue and ~10 percent operating margin; current 2026 guidance shows progress but still reflects macro and tariff uncertainty.

Geographic and channel mix are primarily North America and mall/off‑mall stores plus robust e‑commerce, which is growing mid‑teens. Predictability is better than typical fashion‑led peers due to Aerie’s intimates/active mix, yet still below subscription or toll‑booth models.