Courtesy of Benzinga.
EPS of $0.19 to $0.21 Now Expected
American Eagle Outfitters, Inc. (NYSE: AEO) announced that it is raising its second quarter adjusted EPS outlook to $0.19 to $0.21, compared to adjusted EPS of $0.13 last year. The revised outlook is primarily due to stronger than expected sales. The company’s previous second quarter adjusted EPS guidance was $0.13 to $0.15 per diluted share. As previously announced, results exclude the 77kids business and restructuring charges.
Net sales for the second quarter increased 11% to $740 million compared to $669 million last year. Comparable store sales increased 9%, including sales from AEO direct.
Robert Hanson, chief executive officer stated, “Continuing the strength from the first quarter, we saw improvements across our product assortments, our brands and geographic regions during the second quarter. We successfully pulled back promotional activity, while maintaining increased traffic and transactions. As we look forward, our greater goal is to deliver consistent performance and strong returns over the long term.”
