American Eagle Outfitters Earnings Soar
August 19 2015 - 9:50AM
Dow Jones News
American Eagle Outfitters Inc. reported a stronger-than-expected
profit in its latest quarter as revenue jumped 12%.
Teen retailers such as American Eagle and rivals like
Abercrombie & Fitch Co. have been trying to revive sales after
a long slump. The sector has faced tough competition from
fast-fashion retailers including Forever 21 and H&M that offer
the latest styles at lower prices.
For the quarter ended Aug. 1, American Eagle reported a profit
of $33.3 million, or 17 cents a share, up from $5.8 million, or
three cents a share, a year earlier. The company's earnings
benefited from a favorable income tax settlement that contributed
about $2.5 million.
The company had expected per-share earnings between 11 cents and
14 cents.
Revenue increased to $797.4 million, above analysts'
expectations for $770 million.
Sales excluding newly opened or closed locations rose 11%,
compared with a 7% decrease last year.
For the current quarter, the retailer said it expects adjusted
earnings of 28 cents to 31 cents a share, and comparable sales
growth in the mid single-digit range.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 19, 2015 09:35 ET (13:35 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From Aug 2024 to Sep 2024
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From Sep 2023 to Sep 2024