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Non-Tech : American Eagle Outfitters
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To: Joe Waynick who wrote (213)5/7/1998 2:24:00 AM
From: Joseph Stumpf  Read Replies (3) of 325
 
I noticed HUGE INSIDER SALES on AEOS Chairman sold 750,000 shares between 3-16-98 to 3-27-98 between $36.5 and $42. Other insider sales also check it out! I called investor relations and asked why the sudden increase in same store sales the past two months? The only answer I got was everything is hitting just right at the moment. I have followed this company over the years and I believe they put real good merchandise in their stores around February 1997 and got off to a slow start last year. It appears they picked up momentum with same store sales from that point. Momentum built up real strong for the 1997 back to school and christmass season. So that momentum is what has made their current same store sales look so good. But watch out come summer time and back to school season they will be facing real hard same store sales comparisons. I noticed one store near Me closed down. I believe they have not added many new stores, still about the same number I think. I believe they have no huge expansion plans. I do not think this is a real growth company. They are only in for the moment because fashion trends are strong right now and trends always change and never last so one wrong move and your dead meat. It appears their insiders have bought and sold their stock with very good timing in the past, and their SELLING now it looks like. I believe they have now MAXED OUT. The stock has gone from about $8 to $65 in about 13 to 14 months and did a KEY REVERSAL today, very bearish. I noticed their was a bid of $62.75 and and ask of $62.875 near market close, the bid suddenly dropped to $61.75 after the stock just traded at $62.875 very curious...
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