UPDATE: American Eagle Posts 3% Rise In Q2 Profit, Issues Weak Forecast
American Eagle Outfitters (NYSE: AEO) reported a 3% rise in its fiscal second-quarter earnings and issued a weak profit view for the third quarter.
American Eagle expects earnings of $0.14 to $0.16 per share, versus analysts' estimates of $0.35 per share.
American Eagle's quarterly profit rose to $19.6 million, or $0.10 per share, from $19 million, or $0.09 per share, in the year-ago period
Its net sales declined 1.7% to $727.3 million, while same-store sales dropped 7%.
American Eagle's gross margin shrank to 33.8% from 37.4%.
American Eagle shares tumbled 9.83% to $14.77 in pre-market trading.
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