American Eagle Outfitters announced quarterly earnings of $0.17 per share

 

American Eagle Outfitters announced quarterly earnings of $0.17 per share, in line with expectations, and revenue of $1.08B, which exceeded expectations.  However, the company lowered its full-year outlook, causing shares to drop by 13%. Store revenue increased by 5%, and digital revenue dropped by 4%. Comparable sales for Aerie rose by 2%, while those for the company's flagship brand, American Eagle, fell by 2%. Net income dropped by almost 42% to $18.45M in the same period last year. Unlike last year, inventory levels dropped by 8% to $625M compared to the same period.