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Friday, March 19, 2010
American Eagle To Close Martin + Osa Concept; Shares Jump
The Wall Street Journal
American Eagle Outfitters Inc. (AEO) announced it would shutter its 28-store Martin + Osa concept, as the apparel retailer management determined the brand wasn’t achieving performance levels that warrant further investment.
Instead, the company said it would focus its efforts and resources on its namesake brands--which includes its aerie and 77kids.
Shares, which rose as much as 11% in after-hours trading, were up 6.4% to $18.24.
Brian Sozzi, an analyst at Wall Street Strategies Inc., said the company’s resources would be better served cultivating the core American Eagle brand and to develop 77kids both online and in malls.
Link to full article: http://online.wsj.com/article/BT-CO-20100309-715385.html
Posted by Brian Sozzi, Research Analyst
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