Executive pay slipped at American Eagle Outfitters Inc. last 12 months as top leaders received no incentive pay, but Jay Schottenstein, executive chairman and chief executive officer, said the corporate successfully pivoted in a tricky environment and has loads of opportunities ahead.
“Fiscal 2022 was one other dynamic 12 months,” said Schottenstein to shareholders in a letter filed to regulators as a part of the corporate’s annual proxy statement.
“Consumers were experiencing rising inflation and better rates of interest,” he said. “At the identical time, we continued to navigate supply chain disruptions, which drove elevated costs and product delays.…We pivoted swiftly to regulate inventory, seek efficiencies and maximize productivity. Ultimately, this drove a meaningful improvement in operating income and free money flow...
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