American Eagle profit falls on markdowns, traffic drop continues
Aug 21 (Reuters) - American Eagle Outfitters Inc on Wednesday reported sharply lower revenue and gross profit margin last quarter after having to mark down prices, and the teen clothing chain said the promotional environment and drop in store visits have continued into this quarter.
American Eagle, which had previously reported that same-store sales fell 7 percent during the second quarter ended Aug. 3, reported net income of $19.6 million, or 10 cents per share, for the period, compared with $19.0 million, or 9 cents a share, a year earlier.
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