American Eagle's stock tumbles after profit tops forecasts but revenue comes up short

10 months ago 150

Shares of American Eagle Outfitters Inc. AEO, -1.54% tumbled 8.8% toward a much than five-month low, aft the manner apparel and accessories retailer reported fiscal second-quarter nett that bushed expectations but gross that roseate to a grounds but came up shy of forecasts. For the 4th to July 31, the institution swung to nett income of $121.5 million, oregon 58 cents a share, from a nonaccomplishment of $13.8 million, oregon 8 cents a share, successful the year-ago period. Excluding nonrecurring items, adjusted net per stock came to 60 cents, supra the FactSet statement of 55 cents. Revenue roseate 35.2% to $1.19 billion, beneath the FactSet statement of $1.23 billion. Store gross grew 73% amid an betterment successful store postulation arsenic COVID-19 restrictions were lifted, portion full online request was up 9% arsenic integer gross decreased 5%. Aerie gross roseate 34% to $336 cardinal and American Eagle gross grew 35% to $846 million. The stock, connected way to unfastened astatine the lowest terms seen during regular-session hours since March 25, has dropped 10.8% implicit the past 3 months done Wednesday, portion the S&P 500 SPX, +0.03% has gained 7.5%.

Read Entire Article