American Eagle Outfitters takes hit from closing kid's unit
Aug 22 (Reuters) - American Eagle Outfitters Inc posted a smaller quarterly profit as it took a hit from the closing of its underperforming children's business.
The company, expected to be a winner this back-to-school shopping season with teens, has been able to change clothing lines faster and keep up with its younger clientele's fast- changing tastes in fashion, something rivals such as Aeropostale Inc and Abercrombie & Fitch Co are still struggling to do.
For the second quarter that ended July 28, American Eagle earned $19.03 million, or 9 cents a share, compared with $19.7 million, or 10 cents a share last year.
Its sales rose 11 percent to $739.7 million.
The company's shares closed at $20.83 Tuesday on the New York Stock Exchange.
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