American Eagle Warns on First Quarter

Author:: TSC Staff
Publish date:: Apr 9, 2002 5:02 PM EDT

American Eagle Outfitters

(AEOS)

guided analysts lower Tuesday, saying that weaker-than-expected sales in February and March will cause the company to miss its first-quarter earnings estimates.

The company, which aims its clothes at mall-frequenting teens and young adults, now expects earnings of 14 cents to 17 cents a share. According to First Call, analysts expect the company to earn 21 cents.

American Eagle said total sales for March rose 15.4% to $117.4 million, up from $101.7 million in the same month a year ago. Same-store sales for American Eagle Outfitters stores were flat for the month. Consolidated comparable-store sales, which include Bluenotes/Thriftys shops, fell 1.3% in March.

Shares of American Eagle were dropping 6.9% to $23.25 in extra-session Instinet action, after gaining 5.8% to $24.96 during regular

Nasdaq trading.