Allison Abell Schwartz, (Bloomberg)
American Eagle Outfitters Inc., the teen retailer with more than 1,000 stores in North America, will open stores in China starting next year through a franchise agreement.
The first three of a “series” of stores will open in early 2011 in Hong Kong, Beijing and Shanghai, in partnership with Dickson Concepts (International) Ltd., Pittsburgh-based American Eagle said today in a statement.
American Eagle Chief Executive Officer Jim O’Donnell is focusing on international expansion to fuel growth. American Eagle started its first stores outside North America in March in Dubai and Kuwait City, also through a franchise.
“There is significant appetite for the American Eagle Outfitters brand internationally,” O’Donnell said in the statement.
American Eagle rose 14 cents, or 1.2 percent, to $12.21 at 4:01 p.m. in New York Stock Exchange composite trading. The shares have lost 28 percent this year.
Dickson Concepts operates over 400 retail stores throughout Asia, including Harvey Nichols.
--Editors: Cécile Daurat, John Lear