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American Eagle Withdraws Q1 Guidance; Co. Says Ended FY19 With $417M In Cash And Short-term Investments And No Debt And Has Recently Drawn $300M On Revolving Credit Facility

In addition, AEO announced that it is withdrawing the first quarter 2020 guidance issued on March 4, 2020, as management expects store closures and the impact of COVID-19 to have a material adverse

Benzinga · 03/17/2020 12:46

In addition, AEO announced that it is withdrawing the first quarter 2020 guidance issued on March 4, 2020, as management expects store closures and the impact of COVID-19 to have a material adverse impact on financial results. AEO ended fiscal 2019 with $417 million in cash and short-term investments and no debt and has recently drawn $330 million on its revolving credit facility to further bolster near-term liquidity.