American Eagle Outfitters, Inc. (AEO) announced that total sales for the four weeks ended October 31, 2009 decreased 5% to $195.1 million, compared to $204.8 million for the four weeks ended November 1, 2008. Comparable store sales decreased 5% for the month, compared to a 12% decrease for the same period last year.
Total sales for the third quarter ended October 31, 2009 decreased 1% to $749.0 million, compared to $754.0 million for the third quarter ended November 1, 2008. Comparable store sales decreased 4% for the third quarter compared to a 7% decline for the same period last year.
Looking ahead, Management expects third quarter non-GAAP earnings to be $0.20 to $0.21 per diluted share, which excludes an expected tax benefit of approximately $0.07 per diluted share associated with the repatriation of earnings from Canada. This guidance excludes the possibility of additional impairments or losses related to investment securities.
Previous third quarter non-GAAP earnings guidance was $0.19 to $0.21 per diluted share which excluded a tax benefit of approximately $0.05 per diluted share associated with the repatriation of earnings from Canada.
Analysts polled by Thomson Reuters expect the company to report earnings of $0.22 per share. Analysts' estimates typically exclude special items.
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