American Eagle Outfitters (AEO) Guidance Dissapoints

American Eagle Outfitters Inc AEO released financial results on Wednesday morning that were in line Wall Street estimates. American Eagle Outfitters Inc reported that its 1st quarter earnings fell to $10.9 million, or 5 cents per share, down from $22 million, or 11 cents per share, a year earlier. However, sales climbed 8% to $659.5 million, up from $612 million a year earlier. Excluding special items, American Eagle Outfitters Inc reported earnings of 17 cents per share. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 17 cents per share. American Eagle Outfitters Inc forecast 2nd quarter earnings of 12 cents to 16 cents per share, which was far less than the average of 22 cents earnings per share forecast by analysts. The company's shares were down 6.5% at $14.38 in pre-market trading.