American Eagle Outfitters revenue drops 37.7 percent for Q1

American Eagle Outfitters reported its net loss for Q1 dropped on Wednesday. Revenues dropped by 37.7 percent from the same period last year.

The company's net profit for Q1 was -257 million dollars, dropped from 41 million dollars a year earlier. Revenues decreased to 552 million dollars. The profit margin of the company slipped to -47 percent compared to 5 percent a year ago.

American Eagle Outfitters (NYSE: AEO) is an American clothing and accessories retailer, headquartered in Pittsburgh, Pennsylvania. It was founded in 1977 by brothers Jerry and Mark Silverman as a subsidiary of Retail Ventures, Inc., a company which also owned and operated Silverman's Menswear. American Eagle Outfitters is the parent company of Aerie. The company operates more than 1,000 stores in the United States, Canada, Mexico, China and Hong Kong.

As of 2,020, American Eagle Outfitters has more than 46,000 employees and operates over 1,300 stores.

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