Thursday, December 1, 2016

American Eagle lowers forecast

American Eagle Outfitters Inc. on Wednesday issued a weaker than expected forecast for the fourth quarter as its CEO cited a “tough” retail environment. Its warnings issues similar statements from the likes of Abercrombie & Fitch and Gap.  
 
But the news was not all bad for American Eagle. The retailer’s net profit for the third quarter rose to $75.76 million, or 41 cents per share, from $74.11 million, or 38 cents per share, a year earlier. 
 
Net revenue rose 2.34% to $940.6 million, just missing analysts’ estimates. Same-store sales increased 2%, less than expected.. . . more

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