10:13 AM EST, 03/07/2024 (MT Newswires) -- American Eagle Outfitters ( AEO ) said Thursday it is implementing a three-year growth plan expected to increase its annual operating income in the mid-to-high teens with 3% to 5% revenue growth.

The plan, which also targets a 10% operating margin, focuses on amplifying brands, financial discipline and optimizing operations, the retailer said.

American Eagle reported increased in fiscal Q4 non-GAAP earnings and revenue on Thursday and said it expects fiscal 2024 operating income of $445 million to $465 million on revenue growth of 2% to 4%.

Shares of the retailer were up more than 6% in recent trading.

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