American Eagle Profit Soars

Stock quotes in this article: AEOS  

American Eagle Outfitters(AEOS Quote) reported a big rise in second-quarter profit and backed analysts' estimates for third-quarter earnings.

The company earned $29.6 million, or 40 cents a share, in the quarter ended July 31, compared to $8.1 million, or 11 cents a share, in the year-earlier period. Total sales jumped 22.8% to $413.8 million, while same-store sales rose 12.7%.

Analysts had been calling for a profit of 38 cents a share on sales of $405 million.

Meanwhile, gross margin expanded to 39.7% from 33% a year ago. American Eagle cited an improvement in merchandise margins.

In a statement, American Eagle said it is comfortable with the Wall Street consensus for third-quarter earnings of 47 cents a share, saying the sales momentum it saw in July has continued. That would compare to earnings of 25 cents a share a year ago.

Shares of Warrendale, Pa.-based American Eagle were up 33 cents, or 1%, at $32.33 in early Thursday trading.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin




Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,023.42 1,069.30 2,112.44 35.03
Oil *
76.05
UP
17.46
UP
2.67
UP
7.12
DOWN
0.30
10 Yr
3.50%
SPDR Gold
107.43
+0.17%
+0.25%
+0.34%
-0.85%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services