UPDATE: American Eagle Posts Drop In Q3 Profit, Issues Weak Outlook

American Eagle Outfitters AEO reported a drop in its third-quarter profit and issued a weak earnings forecast for the current quarter. American Eagle now projects Q4 earnings of $0.26 to $0.30 per share, versus analysts' estimates of $0.39 per share. American Eagle's quarterly profit declined to $24.9 million, or $0.13 per share, versus a year-ago profit of $78.6 million, or $0.39 per share. Its adjusted earnings fell to $0.19 per share from $0.41 per share. Its revenue dropped to $857.3 million from $910.4 million. However, analysts were estimating earnings of $0.19 per share on revenue of $856 million. American Eagle shares declined 5.49% to $15.50 in pre-market trading.