How Do They Make Money?

Pretty obvious how they make money. They sell clothes. $aeo has 1,500 retail stores worldwide.

I was suprised by how old AE is. The company has been around since 1977.

Their portfolio of brands include:

American Eagle (duh)
Aerie - which does intimates, apparel, activewear, and swim
OFFLINE by Aerie, which is similar but more casual? Not too sure about this brand.
Todd Snyder - which is a premium menswear brand
Unsubscribed which focuses on consciously made, slow fashion
Quiet Platforms - which serves as $aeo's regionalized fullfillment center network (which uses excess space to service third party customers)

From the annual report:

American Eagle

American Eagle is a leading American jeans and apparel brand, the go-to destination for casual style, embraced by generations since 1977. We are rooted in authenticity, powered by positivity and inspired by our community. Our collections are designed to inspire self-expression and empower our customers to celebrate their own uniqueness. Our brands are expanding products under our Real Good label, which reflects higher environmental standards compared to conventional methods and integrates more sustainable raw materials. Today, nearly all AE jeans are made under the Real Good label. As of February 1, 2025, we operated 829 AE stores. We offer American Eagle products online at www.ae.com.

Aerie

Built on a platform of power, positivity and no photo retouching - inspiring people to love their real selves, Aerie is a fast-growing lifestyle brand offering intimates, apparel, activewear, and swim collections. With the #AerieREAL™ movement, we celebrate our community by promoting positivity, confidence and empowerment. As part of our Real Good promise, we create swimsuits, bras, and underwear with materials made from recycled polyester, recycled nylon fabric or sustainably sourced cotton

OFFLINE by Aerie offers a complete collection of activewear and accessories made for real movement and real comfort. Built on the success of Aerie's leggings and sports bras, OFFLINE's unique take on an active lifestyle celebrates real life - when some days you feel like you can take on the world and other days you need that extra push to get off the couch. This is activewear for everywhere life takes you. Our Real Good promise extends to the OFFLINE collections with some of our best-selling fleece, leggings and tees made with the planet in mind.

As of February 1, 2025, we operated 318 Aerie brand stand-alone stores, inclusive of 42 OFFLINE stand-alone stores and 39 OFFLINE side-byside stores connected to an Aerie brand location. Included in the 829 AE brand store count described above, we also operated 183 Aerie sideby-side stores connected to an AE brand location, five locations with an AE brand location, Aerie brand location and OFFLINE connected as one store, and six OFFLINE side-by-side stores connected to an AE brand location. These locations are included within the 829 AE store count described above. In addition, Aerie brand merchandise is sold online at www.aerie.com and certain items are sold in AE brand stores.

Todd Snyder

New York A premium menswear brand informed by heritage, yet updated for today, with an emphasis on versatility and comfort. Todd Snyder offers signature essentials, statement pieces, custom suiting and iconic accessories reflective of quintessential American style. From bespoke tailoring to innovative capsule collections - good style can be attainable and playful. As of February 1, 2025, we operated 19 Todd Snyder stores. We offer Todd Snyder products online at www.toddsnyder.com.

Unsubscribed

A truly unique brand offering consciously-made, slow fashion with timeless clothing and accessories, Unsubscribed offers one-of-a-kind vintage pieces that represent socially conscious and ethically produced practices. Each store is a unique experience that respects and highlights the heritage of the space and the surrounding community. We are making wise choices through planet-first practices, emphasizing local makers, natural fibers, and a desire to produce pieces that stand the test of time in both style and quality. As of February 1, 2025, we operated six Unsubscribed stores. We offer Unsubscribed products online at www.unsubscribed.com.

For Real Estate, they lease the majority of their stores.

Link to annual report