American Eagle same-store sales down; keeps view
NEW YORK (Reuters) - Teen clothing retailer American Eagle Outfitters Inc (AEO.N) on Thursday reported a 9 percent drop in May sales at stores open at least a year, worse than expected, but stood by its second-quarter profit forecast.
Analysts, on average, had expected May same-store sales to fall 4.8 percent, according to Thomson Reuters data.
Total sales rose slightly for the four weeks ended May 31, to $200 million from $199.2 million a year earlier.
The mall-based retailer operates the American Eagle Outfitters chain; aerie, which sells intimates and dorm wear for young women; and the adult sportswear chain Martin & Osa.
It has struggled with its assortment of women's clothing, Net profit fell 44 percent in the first quarter and same-store sales dropped 6 percent.
For the second quarter, the company said it still expects to earn 28 cents to 30 cents a share, down from 37 cents a year earlier.
(Reporting by Aarthi Sivaraman; editing by John Wallace)
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