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American Eagle Outfitters announced on May 15, 2012, that it would sell or close all 22 77kids stores by the end of July 2012. [ 26 ] [ 27 ] Robert Hanson, who became CEO in January 2012, said 77kids had a loss after taxes of roughly $24 million on sales of $40 million in the 2011 fiscal year.
In February 2006, American Eagle launched aerie lingerie, the company's first sub-brand. [2] The first stand-alone aerie store opened in August 2006 in Greenville, South Carolina [3] and was followed by two more test stores later that year. As of December 2010, there were 147 stand-alone aerie stores in the United States and in Canada. [4]
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American Eagle has been witnessing sustained momentum across its brands and channels. This led to year-over-year revenue growth of 17% and 15% on a two-year basis in fourth-quarter fiscal 2021.
In 1976, Schottenstein began working in his father's business, joining Value City Furniture. [7] [citation needed]Schottenstein became chairman of American Eagle Outfitters in 1992 and held the position of CEO from 1992 to 2002, and since December 2015. [2]
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