Plus   Neg

American Eagle Sees Q3 Earnings Below Estimates; Shares Fall - Quick Facts

While reporting its second-quarter financial results today, apparel retailer American Eagle Outfitters Inc. (AEO) forecast third-quarter earnings below analysts' estimates. The company's shares are down almost 7 percent in pre-market activity.

Based on an anticipated comparable sales increase in the high-single digits and total revenue growth in the mid-single digits, reflecting the approximate $40 million revenue shift into the second quarter due to the shifted retail calendar, American Eagle forecast third-quarter 2018 earnings per share of about $0.45 to $0.47. This guidance excludes potential asset impairment and restructuring charges.

The year-ago quarter's reported earnings per share of $0.36 included approximately $0.01 per share of restructuring and related charges. Excluding these items, last year's third-quarter adjusted earnings per share was $0.37.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.49 per share for the third quarter. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
Follow RTT