WASHINGTON (dpa-AFX) - American Eagle Outfitters, Inc. (AEO) said the company is on track to surpass its fiscal 2023 operating income and margin goals two years ahead of schedule. AEO projects revenue of approximately $5.8 billion and operating income of $800 million in fiscal 2023, with the operating margin expanding to 13.5%. Previously, the company estimated revenue of $5.5 billion, operating income of $550 million, and an operating margin of 10.0%.
Also, the company is on track to achieve $600 million in operating income for fiscal 2021.
AEO expects record fourth-quarter revenue with growth in the mid-to-high teens compared to fourth quarter 2020. Operating income is expected to be in the range of $90 to $100 million.
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