UPDATE: American Eagle Reports Weaker-Than-Expected Q1 Profit

American Eagle Outfitters Inc AEO reported weaker-than-expected first-quarter profit on Wednesday. American Eagle reported its quarterly earnings at $28.3 million, or $0.14 per share. The company's adjusted earnings came in at $0.13 per share. Its sales dropped 6% to $610 million. However, analysts were expecting Q1 earnings of $0.15 per share on revenue of $637.50 million. American Eagle projects Q2 earnings of $0.10 to $0.13 per share, versus analysts' estimates of $0.13 per share. American Eagle shares fell 0.66% to $13.57 in pre-market trading. Read more from Benzinga's Company news.