By Liz Warren | Link to article

American Eagle Outfitters (AEO) announced this week it is raising its 2023 financial targets following a successful holiday season.

The company, which owns teen retailer American Eagle and intimate apparel label Aerie, stated it's on track to earn $600 million in operating income in 2021, surpassing its 2023 goal of $550 million two years ahead of schedule. The new goals for 2023 include an operating income of $800 million and revenue of $5.8 billion, up from $5.5 billion. Operating margin goals will raise from 10 percent to 13.5 percent.

The new targets are a direct reflection of a holiday season that surpassed pre-pandemic levels for many in the retail industry. According to a recent holiday spending report from Mastercard, holiday retail sales in the U.S. increased about 11 percent compared to the 2019 holiday season.

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American Eagle Outfitters Inc. published this content on 14 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 16:41:00 UTC.