Victoria's Secret loss is American Eagle Outfitters’ gain as the teen apparel retailer posted better-than-expected second quarter results, fueled by strong demand for its Aerie lingerie brand.
Revenue rose 3%, to $845 million, topping analysts' forecast for sales of $824 million. Total same-store sales rose 2%, beating analysts' average estimate of a dip of 0.4%. Same-store sales were flat at American Eagle, but jumped 26% at American Eagle's lingerie brand, Aerie.. . . more