American Eagle Outfitters, Inc. (AEO) reported that total sales for the two month November/December period ended December 31, 2011 advanced 15% to $887 million from $771 million in the year-ago period. Comparable store sales rose 12% versus a 7% decrease last year.
The company noted that the holiday season started strong with a nearly 20% increase in comparable store sales in November and record sales over Thanksgiving weekend, fueled by strong unit sales, with customers responding positively to the assortments and promotional events.
Going ahead, American Eagle Outfitters currently expects fourth quarter earnings per share to be in the range of $0.33 to $0.35 per share, which excludes the potential impact of store impairment charges, primarily related to aerie stand-alone stores, and executive transition costs. Earlier, the company expected earnings per share for the quarter to be between $0.40 and $0.44.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.
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