UPDATE: American Eagle Reports Decline In Q4 Profit

American Eagle Outfitters

reported a drop in its fourth-quarter profit. American Eagle's quarterly profit declined to $51.3 million, or $0.26 per share, from $87 million, or $0.44 per share, in the year-earlier period. Excluding items, American Eagle's adjusted earnings came in at $0.35 per share. Its sales rose to $1.05 billion from $916 million. However, analysts were expecting earnings of $0.35 per share on revenue of $1.05 billion. American Eagle projects Q1 earnings of $0.08 to $0.10 per share, versus analysts' estimates of $0.10 per share. American Eagle shares surged 5.64% to $15.45 in pre-market trading.