Did COVID manage to save the malls?
Maybe not, but it definitely helped American Eagle Outfitters, said Jim Cramer.
"In the "Executive Decision" segment, Cramer spoke with Jay Schottenstein, chairman and CEO of teen-apparel chain American Eagle Outfitters (AEO) - Get Report, which pre-announced strong earnings that sent shares soaring 4%," wrote TheStreet's Scott Rutt in his Mad Money recap.
"Schottenstein said American Eagle's stores are open and safe to shop at. Strong same store sales, even at 50% capacity due to COVID, has helped propel their stock to new 52-week highs. When asked about being in the mall, Schottenstein said the mall is not dead and they're very excited about their denim business, where they are the No. 1 brand for denim among 15- to 25-year olds."
"Schottenstein was also bullish on their Aerie brand, which has been red hot. He said Aerie has been at the forefront of the body positivity movement and customers love it," Rutt continued.
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