American Eagle Targets Asian Expansion (AEO)

American Eagle Outfitters (NYSE: AEO) announced today plans to open retail stores in Hong Kong and China. The company has signed an exclusive agreement with Dickson Concepts Limited, a leading international retail company that operates more than 400 stores throughout Asia.

American Eagle plans on opening a series of stores in Asia over the next several years. American Eagle earlier this year introduced its brand in the Middle East with stores in Dubai and Kuwait.

CEO Jim O'Donnell said, "There is significant appetite for the American Eagle Outfitters brand internationally, and we are excited to bring ou high-quality, affordable fashion to customers in China and Hong Kong."

Shares of American Eagle are up 19 cents, or 1.53%, to $12.26 in early trading Wednesday.