AEO Inc. Announces 30 Million Shares Authorized for Share Repurchase Program

Core Viewpoint - American Eagle Outfitters, Inc. (AEO) has authorized a new share repurchase program for 30 million shares, replacing the existing authorization set to expire on February 3, 2024, reflecting improved financial performance and a strong balance sheet [1] Group 1: Share Repurchase Program - The new share repurchase program will run through February 3, 2029, and follows a fiscal year 2023 repurchase of approximately one million shares [1] - The company plans to utilize existing cash and cash equivalents to fund the repurchases under the program [2] Group 2: Financial Performance and Dividends - AEO announced a 25% increase in its quarterly cash dividend in December, indicating confidence in the strength of its business and commitment to returning cash to shareholders [1] - The timing and total amount of stock repurchases will depend on various factors including business conditions, market conditions, and prevailing stock prices [2] Group 3: Company Overview - American Eagle Outfitters is a leading global specialty retailer offering clothing, accessories, and personal care products under the American Eagle® and Aerie® brands, operating in the U.S., Canada, Mexico, and Hong Kong, and shipping to approximately 80 countries [3]