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Traders got an early taste of November sales reports from teen clothing chains after Wednesday's closing bell. It was sweet and sour.
Most notably, American Eagle Outfitters (AEOS Quote) set off alarm bells by lowering its fourth-quarter earnings forecast after same-store sales rose only 1.7% in November. Wall Street had been expecting a double-digit increase from the longtime investor favorite.
American Eagle now expects to earn between 70 cents and 72 cents a share for the quarter, down from a previous estimate of 73 cents to 75 cents. Analysts on Wall Street were expecting earnings of 74 cents a share, according to consensus estimates reported by Thomson First Call. ...
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