American Eagle Outfitters Drops 8% As Quarterly Sales Fall Shy Of Consensus

Shares of American Eagle Outfitters, Inc. (AEO) are down more than 8% Thursday morning after the lifestyle, clothing, and accessories retailer's second-quarter sales missed view.

Revenue for the quarter increased 35% year-over-year to $1.194 billion, but fell short of the average estimate of 11 analysts polled by Thomson Reuters at $1.23 billion.

The company reported net income of $121.51 million or $0.58 per share compared with net loss of $13.75 million or $0.08 per share in the same quarter a year ago.

Excluding items, earnings of $0.60 per share beat the consensus estimate at $0.55 per share.

AEO is at $27.38 currently. It has traded in the range of $12.36-$38.99 in the last one year.

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