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PITTSBURGH - Teen retailer American Eagle Outfitters Inc. said Thursday that it expects fourth-quarter earnings to come in well below year-ago results due to recent same-store sales declines.
The company reported its November same-store sales fell 11 percent.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.
American Eagle anticipates fourth-quarter profit between 30 cents and 36 cents per share. It reported earnings of 66 cents per share in the prior-year period.
Analysts surveyed by Thomson Reuters expect fourth-quarter net income of 38 cents per share. Analysts' estimates typically exclude one-time items.
Its shares rose 42 cents, or 4.5 percent, to $9.80 in morning trading.
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