American Eagle up 13% After Raising Q1 Guidance

American Eagle Outfitters

is trading higher on the session after raising its Q1 guidance. The company now sees an EPS of $0.18-0.20 vs the prior guidance of $0.08-0.10. American Eagle also initiated a full year guidance of $1.06-1.12. Robert Hanson, chief executive officer of American Eagle Outfitters stated, “The team delivered on our near-term priorities of driving a competitive top line and improving margins. We experienced broad-based strength in our spring merchandise selling, which enabled us to pull back on full scale promotional plans. Looking ahead, our larger goal is to build upon our capabilities to deliver consistent profitable growth.” American Eagle is currently trading at $20.28, a gain of $2.39 or 13.36%.