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American Eagle raises Q3 EPS guidance

Business

American Eagle raises Q3 EPS guidance

By Prachi Singh

Nov 12, 2014

REPORT_ American Eagle Outfitters expects to report third quarter adjusted EPS of 0.22 dollars per diluted share, above the previous guidance range of 0.17 dollars to 0.19 dollars. GAAP earnings are estimated to be 0.05 dollars per share. Last year, the company earned adjusted EPS of 0.19 dollars in the third quarter. The earnings improvement over last year was primarily due to an improvement in markdowns and lower expenses. Third quarter net revenues declined slightly on a comparable sales decline of 5 percent.

“Third quarter earnings exceeded our expectations and margins were ahead of last year. We are encouraged by our ability to reduce promotional activity, particularly given the challenging and highly promotional retail climate,” said Jay Schottenstein, Interim CEO.

The management will provide fourth quarter guidance with the third quarter earnings release after market close on December 4, 2014.