American Eagle names Ravi Thanawala as new chief financial officer

American Eagle Outfitters named Ravi Thanawala its next chief financial officer, a move that brings in a finance executive with experience at Nike and Papa John’s just as the Pittsburgh-based retailer is trying to protect profitability in a volatile apparel market. Thanawala will take over on August 3, while longtime company veteran Mike Mathias shifts into a full-time non-executive strategic adviser role to Executive Chairman and CEO Jay Schottenstein.

The change comes after a strong first quarter that gave American Eagle room to press ahead with its outlook. For the quarter ended May 2, the company reported record revenue of $1.2 billion, up 10% from a year earlier. Total comparable sales rose 8%, while Aerie comparable sales jumped 25%. Gross profit reached $456 million, compared with $322 million a year earlier, and gross margin improved to 38.2%. American Eagle also posted operating profit of $28 million, reversing an operating loss a year ago.

American Eagle reaffirmed its second-quarter and full-year 2026 forecast when it reported those results, including operating income guidance of $390 million to $410 million for fiscal 2026. That backdrop makes the CFO transition more than a routine corporate move. With fashion demand shifting quickly and promotions still central to the retail business, the finance chief will help shape how aggressively American Eagle chases sales growth while managing inventory, pricing and store investment.

Thanawala arrives with a résumé that stretches beyond apparel. Papa John’s said he joined the pizza chain as chief financial officer in 2023, later became chief financial officer and president of North America in November 2025, and served as interim chief executive from March 2024 to August 2024. The company said its international business produced four consecutive quarters of positive comparable sales under his stewardship. Before Papa John’s, Thanawala served as Nike North America CFO and as global vice president and CFO of Converse, giving him exposure to a large global brand and a franchise-heavy business.

The appointment also ends a long run for Mathias, who joined American Eagle in 1998 as a manager of finance for stores and operations. He left briefly in 2016, returned in 2017 and became chief financial officer in April 2020. His move to an advisory post keeps him near the business, but American Eagle’s choice to bring in an outsider from outside apparel points to a sharper focus on margins and operating discipline as the retailer enters a more demanding phase.