Clothing retailer American Eagle Outfitters' ( AEOS) first-quarter profit dropped by about half on lower same-store sales. But results still met analyst expectations.

In the quarter ended May 3, the company earned $6.4 million, or 9 cents a share, down from last year's $12.7 million, or 17 cents a share.

The company lowered its earnings guidance last week to 8 cents to 9 cents a share from an earlier forecast of 10 cents to 12 cents a share, citing a 1.7% decline in April comparable store sales.

Sales rose 5% to $291.9 million from $277.9 million last year. Comparable stores sales, however, fell 5.8% during the quarter, the company said. General expenses rose to $82.9 million from $78.1 million in the year-ago quarter.

Shares of the Warrendale, Pa.-based company closed at $15.35 Wednesday on the Nasdaq.

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