American Eagle Spreads Its Wings

American Eagle Outfitters Inc. (Warrendale, Pa.) will open 80 new stores in the U.S. in 2001, adding to its 556 existing locations. The apparel retailer will also begin operating in Canada, due to the acquisition of two Canadian apparel chains, Thriftys and Braemar. The 150 Canada stores will cater to a young crowd similar to the U.S. stores. And, though some analysts criticize the decision, the company plans to rename approximately 45 of the Canadian stores American Eagle.

American Eagle reported a 20 percent profit increase for the third fiscal quarter ended October 28. Earnings rose to $29.2 million from $24.3 million a year earlier. The company's stock price has more than tripled over the past year.