American Eagle Outfitters

American Eagle Outfitters® (NYSE: AEO) is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle® and Aerie® brands. We are an inclusive, optimistic and empowering company that celebrates the individuality of our customers and associates. Our purpose is to show the world that there’s REAL power in the optimism of youth.

The Beginning

American Eagle’s beginning was with the Silverman family, which owned and operated Silvermans Menswear. By the mid-1970s, two of the Silverman brothers—the third generation of Silvermans in the family business—were running the family business. Jerry Silverman was the president and CEO, while his brother, Mark Silverman, served as executive vice-president and COO. The Silverman brothers were convinced they needed to diversify their product offerings in order to continue growing their company. They also recognized that the addition of new family-owned chains would then enable them to operate more than one store in the same mall. Their first attempt was to open American Eagle Outfitters in 1977, positioning it as a proprietor of brand-name leisure apparel, footwear, as well as accessories for men and women, emphasizing merchandise suited for outdoor sports, such as hiking, mountain climbing, and camping. Stores were set up in shopping malls and a catalog was established. 

The chain grew for much of the 1980s. In 1989, the owners decided to refocus their business on American Eagle Outfitters, selling their other retail chains. At that time, there were 137 American Eagle Outfitters stores in 36 different states.

Despite the plans for quick growth after the reorganization, American Eagle Outfitters opened only 16 new stores by 1991 and the company was losing money. At this point, the Schottensteins, who had been 50% owners of the chain since 1980, bought out the founding Silverman family’s interest. This change in leadership resulted in American Eagle finding its present niche: casual clothing for men and women selling private label clothes.

NASDAQ

When the company began trading on the NASDAQ stock exchange in the second quarter of 1994, it had 167 stores and a healthy cash flow. With the cash infusion from the IPO, the company opened more than 90 new stores within the next year. Several new executives joined the company in 1995 and ’96, leading to another change in the target demographic. Over the next five years, revenues quintupled to $1 billion by 2000. AEO opened the first Canadian store in 2000.

As of January 30, 2016, the company operated 949 AEO brand stores, and 97 stand-alone and 67 side-by-side Aerie stores located in shopping malls, lifestyle centers, and street locations in the United States, Canada, Mexico, Hong Kong, China, the United Kingdom, and internationally.The company had 21 franchised stores operated by franchise partners in 10 countries. On January 22, 2014, then-CEO Robert Hanson stepped down and Jay Schottenstein became interim CEO.

American Eagle opened its first Canadian store in 2001 after it purchased assets of Dylex. In 2010, AEO opened stores in Kuwait, Riyadh, and Dubai. A store in Kaslik near Beirut, Lebanon, was opened on October 15, 2011. A store in Cairo, Egypt, opened in late 2011. In September 2011, two stores opened in Moscow, Russia. Its first store in Jordan opened in November 2011 in the brand-new Taj Mall. Its first store in Tokyo, Japan opened on April 18, 2012. The first store in Tel Aviv, Israel, opened in February 2012, after the Israeli-based clothing retailer FOX signed a contract with AEO and have expanded to Jerusalem. Currently, there are also stores in Beijing, Shanghai and Hong Kong. American Eagle Outfitters opened its first store in the Philippines in March 2013.

International

American Eagle is also opening stores in Mexico. The first opened in Mexico City at Fashion Mall Perisur on February 20, 2013, and at Centro Santa Fe in June. Another is scheduled to open in Guadalajara later in 2013 at Fashion Mall Galerías Guadalajara. In 2014 the company financed the rescue and renovation of the Jardín Edith Sánchez Ramírez pocket park in Mexico City.

American Eagle has also expanded to the United Kingdom in November 2014, opening stores in Westfield London, Westfield Stratford City, and Bluewater.The Westfield London store opened on November 14, 2014, the Westfield Stratford City store on November 17, 2014, and the Bluewater store on November 19, 2014. All UK operations have now been ceased with their UK website closed and all UK stores due to close by the end of July 2017.

American Eagle Outfitters opened its first store in Muscat, Sultanate of Oman, on October 3, 2015. The company made its debut in the Indian market in June 2018 with first store launched in DLF Mall of India, Noida. Today, it operates 17 stores across the country.

AEO entered the Chilean market in September 2015, with the opening of its first store in the Parque Arauco shopping center. After its arrival in the Chilean market, the company’s expansion was concentrated in the capital of the country.

In 2019, American Eagle Outfitters became one of only two major clothing companies with commitments in line with the Paris Agreement‘s goal of limiting global average temperature increase to 1.5 degrees Celsius.

In 2020, American Eagle Outfitters opened their first store in Prague, Czech Republic in a factory outlet center Fashion Arena Prague Outlet.