Truth in advertising

I found this ad for American Eagle Outfitters. (Please watch) http://creativity-online.com/work/american-eagle-outfitters-skinny-skinny-jeans/31047 It is an ad for skinny jeans. At the end of the video there is a link to the AEO website. When you try to purchase these jeans, a pop up informs you they are out of stock and if you give them your email they will let you know when they are back in stock.  

This has probably generated a lot of traffic to their web site and perhaps even some purchases of products that are “in stock”, which is their intent. But is this type of ad fair to consumers? Does it cross any ethical or legal boundaries?