American Eagle Outfitters stock falls on weak outlook

American Eagle Outfitters Inc. AEO, -2.51% shares dropped in the extended session Tuesday after the company’s outlook and quarterly revenue fell short of Wall Street estimates. American Eagle shares fell 4.4% after hours, following a 2.5% decline to close the regular session at $19.03. The company reported third-quarter net income of $85.5 million, or 48 cents a share, compared with $63.7 million, or 36 cents a share, in the year-ago period. Revenue rose to $1 billion from $960.4 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 48 cents a share on revenue of $1.02 billion. For the fourth quarter, American Eagle expects earnings of 40 cents to 42 cents a share, while analysts had forecast 47 cents a share.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Source: Read Full Article