American Eagle profit rises, but sales outlook weak
March 6 |
March 6 (Reuters) - American Eagle Outfitters Inc on Wednesday reported a higher profit for the holiday quarter, helped by fewer markdowns, but the teen clothing retailer gave a weak sales forecast for the current quarter, citing a tough economy and unfavorable weather.
Net income for the fourth quarter ended Feb. 2 rose to $94.8 million, or 47 cents per share, from $51.3 million, or 26 cents per share, a year earlier. Same-store sales rose 4 percent.
The company, which competes with Aeropostale Inc and Abercrombie & Fitch Co, said it expected same-store sales this quarter to fall by a "mid-single-digit" percentage range.
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