Net revenue fromAerie increased 11% Y/Y, and American Eagle fell 11%.
Consolidated store revenue decreased 4%, and digital revenue dropped 5% versus last year. Compared to the pre-pandemic Q3 2019 base, store revenue increased 3%, and digital revenue increased 35%.
Gross profit fell 15% Y/Y to $480 million, and the gross margin contracted 560 basis points Y/Y to 38.7%.
The operating margin was 9.5%, and operating income for the quarter was $118 million.
EPS of $0.42 beat the analyst consensus of $0.22.
The company held $82.1 million in cash and equivalents as of October 29, 2022.
Total consolidated ending inventory at cost increased 8% to $798 million.
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