American Eagle Outfitters sales figure beats views
Teen clothing retailer American Eagle Outfitters Inc. said Thursday that a key sales figure rose past analyst expectations last month and reiterated its fourth-quarter outlook.
The company said sales at stores open at least a year rose 6 percent in the four-week period ending Feb. 27.
Analysts surveyed by Thomson Reuters forecast an increase of 2 percent.
Sales at stores open at least a year are considered a key measure of retailer performance since they measure growth at existing stores rather than newly opened ones.
Total sales for the period rose 6 percent to $188 million, from $177 million in the same period last year.
American Eagle maintained its fourth-quarter adjusted profit outlook, which it previously raised based on its sales performance in January. The retailer expects earnings in a range of 32 cents to 33 cents per share, excluding possible investment security or store impairment charges.
Analysts predict fourth-quarter earnings of 33 cents per share. Analyst estimates typically exclude one-time items.
The company is due to announce fourth quarter results next Wednesday.
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