American Eagle Outfitters, Inc. (NYSE:AEO) Q2 2022 Earnings Conference Call September 7, 2022 4:30 PM ET

Company Participants

Judy Meehan - Investor Relations

Jay Schottenstein - Executive Chairman and Chief Executive Officer

Jen Foyle - President, Executive Creative Director, AE and Aerie

Michael Rempell - Chief Operating Officer

Mike Mathias - Chief Financial Officer

Conference Call Participants

Jay Sole - UBS

Matthew Boss - JPMorgan

Kelly Crago - Citi

Marni Shapiro - Retail Tracker

Adrienne Yih - Barclays

Kimberly Greenberger - Morgan Stanley

Janet Joseph Kloppenburg - JJK Research Associates

Dana Telsey - Telsey Advisory Group

Operator

Greetings, and welcome to the American Eagle Outfitters Second Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn this conference over to your host, Ms. Judy Meehan. Thank you ma’am, you may begin at this time in your presentation.

Judy Meehan

Good afternoon, everyone. Joining me today for our prepared remarks are Jay Schottenstein, Executive Chairman and Chief Executive Officer; Jen Foyle, President, Executive Creative Director for AE and Aerie; Michael Rempell, Chief Operating Officer; and Mike Mathias, Chief Financial Officer.

Before we begin today’s call, I need to remind you that we will make certain forward-looking statements. These statements are based upon information that represents the company’s current expectations or beliefs. The results actually realized may differ materially based on risk factors included in our SEC filings. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Also please note that during this call and in the accompanying press release, certain financial metrics are presented on both a GAAP and non-GAAP adjusted basis. Reconciliations of adjusted results to the GAAP results are available in the tables attached to the earnings release, which is posted on our corporate website at www.aeo-inc.com in the Investor Relations section. Here, you can also find the second quarter investor presentation.

And now, I will turn the call over to Jay.

Jay Schottenstein

Good afternoon. Thank you for joining us today. This is clearly an unprecedented time in retail. We are cycling extraordinary and uneven demand patterns brought on by stimulus and COVID over the last few years, and we are navigating through a highly volatile macro environment. Our second quarter results reflected these challenges as revenue came in below our plan and markdowns weighted on profit margins.