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Dividend.com: American Eagle Outfitters Soars

Stock quotes in this article: AEO , AZO , MON , DLTR , FDO  

American Eagle Profit Plummets 50%, Still Beats View

Teen apparel retailer American Eagle Outfitters (AEO Quote) said Wednesday that its first-quarter profit eroded by nearly half when compared with the same period last year, hurt by pricing pressures caused by tight competition.

The Pittsburgh-based company reported first-quarter net income of $22 million, or 11 cents per share, down 50% from $43.9 million, or 21 cents per share, in the year-ago period. Excluding one-time benefits and charges, adjusted profit was 8 cents per share.

On average, Wall Street analysts predicted a profit of 7 cents per share, excluding items.

Overall revenue for the first quarter dropped by 4% to $612 million. On average, analysts expected $612.2 million....

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