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American Eagle adds 8% following earnings beat

Published 08/23/2017, 03:54 PM
© Reuters.  American Eagle adds 8% following earnings beat
AEO
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Investing.com - American Eagle Outfitters Inc (NYSE:AEO) shares popped on Wednesday following the company’s premarket quarterly earnings release, which showed the company has earnings and revenue that topped estimates.

American Eagle Outfitter had net income of $21.2 million, or $0.12 per share, down from $41.6 million, or $0.23 per share year-over-year. Adjusted EPS was $0.19, above the analyst forecast for $0.16.

Revenue was $844.6 million, above the $824.0 million analyst consensus forecast. Same-store sales rose 2%, ahead of the forecast for a 0.4% decline.

American Eagle is looking for third-quarter same-store sales in the range of flat to up low single digits and EPS of $0.36 to $0.38 cents. Analysts expect a same-store sales increase of 0.8% and EPS of $0.38.

American Eagle's shares added 7.8% to their value on Wednesday.

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