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American Eagle Outfitters drops 8 percent as quarterly sales fall shy of consensus

By DPA

2 Sep 2021

Washington - Shares of American Eagle Outfitters, Inc. (AEO) are down more than 8 percent Thursday morning after the lifestyle, clothing, and accessories retailer’s second-quarter sales missed view.

Revenue for the quarter increased 35 percent year-over-year to 1.194 billion dollars, but fell short of the average estimate of 11 analysts polled by Thomson Reuters at 1.23 billion dollars.

The company reported net income of 121.51 million or 0.58 dollars per share compared with net loss of 13.75 million or 0.08 dollars per share in the same quarter a year ago.

Excluding items, earnings of 0.60 dollars per share beat the consensus estimate at 0.55 dollars per share.

AEO is at 27.38 dollars currently. It has traded in the range of 12.36-38.99 dollars in the last one year.