Wednesday, August 29, 2018

American Eagle Outfitters soars in Q2 but outlook disappoints

Chain Store Age
American Eagle Outfitters topped analysts’ estimates in the second quarter amid its 14th consecutive quarter of same-store sales growth, buts its third-quarter earnings outlook fell short.

The teen apparel retailer reported net income of $60.3 million, or 34 cents a share, in the quarter, up from $21.2 million, or 12 cents a share, in the year-ago period. Analysts had expected earnings of 31 cents a share.

Revenue rose to $964.9 million from $844.6 million, which was better than expected. Consolidated same-store sales rose 9%, also more than expected. . . . more