American Eagle Outfitters Inc Issues Q3 2012 EPS Guidance In Line With Estimates; Raises FY 2012 EPS Guidance; Comments on Q3, Q4 2012 Comparable Store Sales Guidance; Sees Q3 2012 Charge Guidance

American Eagle Outfitters Inc announced that for the third quarter of 2012, it expects EPS from continuing operations to be in the range of $0.37 to $0.38 per diluted share (EPS). For fiscal 2012, the Company has raised EPS guidance from continuing operations to a range of $1.33 to $1.36. EPS guidance is based on comparable store sales growth of mid single-digits for the third quarter of 2012 and low single-digits for the fourth quarter of 2012. The Company expects to incur an after-tax loss of approximately $35 million, which includes $25 million of exit related charges and $10 million of operational costs during the exit period. The remainder of the exit period costs are expected to be incurred in the third quarter of 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.37 for the third quarter of 2012, EPS of $1.32 for fiscal 2012.