American Eagle Outfitters has unveiled Offline by Aerie (actually spelt OFFL/NE), a new sub-brand “offering a complete collection of activewear and accessories built for real movement and real comfort,” it said.
The "slow fashion" womenswear and accessories company will release just two collections annually, priced roughly from $5 to $550, and will feature items from the company's private label, as well as outside labels.
Shares of American Eagle Outfitters Inc dropped 14% on Wednesday after the apparel retailer withdrew its full-year forecast and said current-quarter results would be significantly hit by coronavirus store closures.
With North American retailers implementing store closures to combat the spread of Covid-19 since the weekend, Tuesday’s announcements have come from the likes of Macy's, Ralph Lauren, AEO, Foot Locker and Tapestry.
American Eagle Outfitters posted record Q4 sales of $1.31 billion on Wednesday, as its Aerie lingerie brand continued to experience strong growth. Profits, on the other hand, suffered from higher expenses and markdowns.
American Eagle Outfitters forecast holiday-quarter profit and comparable sales below market expectations on Wednesday, as the apparel retailer ramps up promotions to counter sluggish demand for its flagship AE brand.