August 29, 2018 / 12:17 PM / 22 days ago

American Eagle Outfitters' profit outlook disappoints, shares slip

Aug 29 (Reuters) - American Eagle Outfitters Inc on Wednesday forecast third-quarter profit that was below expectations, partly due to lower-than-expected sales for its popular Aerie line of lingerie, sending its shares down 10 percent.

Same-store sales at its Aerie business rose 27 percent, but was below the analyst average estimate of 30 percent increase, according to Thomson Reuters I/B/E/S.

However, the company’s overall same-store sales beat estimates on strong demand for its namesake apparel in the back-to-school season.

American Eagle forecast third quarter earnings of about 45 cents to 47 cents per share, below the analyst average estimate of 49 cents per share. (Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)

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