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Friday, March 19, 2010
American Eagle, Minus Martin + Osa = Buy
TheStreet.com
On Tuesday, American Eagle announced that it will shutter its Martin + Osa concept. This highly-anticipated news overshadowed what was a strong fourth-quarter for Eagle.
The news sent shares of American Eagle climbing 8% to $18.52 in morning trading.
All 28 Martin + Osa stores will close, as well as its online business -- moves that should be completed by American Eagle by the end of the year.
This announcement has been a long-time coming, as Martin + Osa has been a drag on American Eagle's business since its inception in 2006. In 2009, Martin + Osa recorded a loss of about $44 million.
Still, it's unclear why the decision to discontinue the concept was so difficult for American Eagle, Wall Street Strategies analyst Brian Sozzi wrote in a note. He plans on inquiring about the company's review process for underperforming brands.
Link to full article: http://www.thestreet.com/story/10699490/1/american-eagle-minus-martin-osa-buy.html?cm_ven=GOOGLEFI
Posted by Brian Sozzi, Research Analyst
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