American Eagle Outfitters Inc AEO reported a strong rise in its fiscal second-quarter profit.
American Eagle's quarterly profit surged to $19.7 million, or $0.10 per share, from $9.7 million, or $0.05 per share, in the year-ago period. Its earnings from continuing operations came in at $0.10 per share. American Eagle's sales climbed 3.7% to $675.7 million. However, analysts were expecting earnings of $0.11 per share on sales of $652 million.
American Eagle projects Q3 earnings to be in the range of $0.22 to $0.27 per share, versus analysts' estimates of $0.26 per share.
American Eagle shares dropped 2.32% to $11.35 in pre-market trading.
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