- Euro Zone Jumps Out of Recession in Third Quarter
- Saudi Arabia to Double Total Refining Capacity by 2015
- GM Still Wants State Aid for Opel Restructuring
- IMF Chief Does Not See Double-Dip US Recession
- Joint Effort Needed to Unwind Stimulus: APEC Leaders
- Obama to Outline Strategy to Boost US Exports to Asia
- Friday May See 'Risk Trade' Stalling; Dollar in Focus
- Former Bankers Look to Buy Failing Banks: Report
- Job Market Politics to Keep Interest Rates Low
- EXCERPTS and IMAGES: Warren Buffett & Bill Gates - Keeping America Great
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Gold Is a Bad Inflation Hedge—Like Oil: Stock Picker
- Intel's Andy Bryant Offers An Explanation
- US 'Actively Working' on Weaker Dollar: Fund Manager
- Options Boil on Biotech Buyout Rumors
- Warren Buffett's $100,000 Offer and $500,000 Advice for Columbia Business School Students
- Activision Blizzard's "Modern Warfare 2" Sales Break Records
- 5-Star Manager's 5 Stocks for Changing Markets
- Finnish inflation rate lowest in half a century
- Iberia reports euro16.4 million Q3 loss
- French economy expands 0.3 pct in Q3
- Airbus military transporter cleared for testing
- Chesapeake crabbers not going for Va.'s buyout
- Chinese president pledges to boost domestic demand
- US commerce secretary: Trade pacts must wait
- UK's Balfour Beatty acquires SpawMaxwell of Texas
- China rejects $28B in steel, chemical projects
Text Size 
PITTSBURGH - Teen apparel retailer American Eagle Outfitters Inc. said Thursday that sales in stores open at least a year fell 5 percent in October, missing analyst expectations that the key metric would increase.
Analysts surveyed by Thomson Reuters, on average, forecast an increase of 1.7 percent.
Sales at stores open at least a year are considered a key measure of retailer performance, because they measure growth at existing stores rather than from newly opened ones.
Total sales for the four weeks ended Oct. 31 fell 5 percent to $195.1 million.
Total sales for the third quarter, which also ended Oct. 31, fell 1 percent to $749 million, while sales at stores open at least a year dropped 4 percent.
The company raised the lower end of its guidance for the third quarter to a range of 20 cents to 21 cents, up from its previous range of 19 cents to 21 cents. Its new range excludes an expected tax benefit of 7 cents a share associated with earnings from Canada.
Analysts predict the company earns 22 cents a share in the quarter, according to Thomson Reuters. Those estimates typically exclude one-time charges.
Shares of American Eagle fell $1.94, or 11 percent, to $15.92 in morning activity.
The company, based in Pittsburgh, reports third quarter results Nov. 24.
Print
Email
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- They may have wrecked their companies or saved our economy. Tell us what you think.
- Big pharma embraces social media, but how much should a tightly regulated sector say on Facebook or Twitter?
- A European dating site finds lovelorn singles from one country to be consistently uglier. Which is it?
- Contributor David Pogue looks at two of the latest efforts to perfect the digital pocket camera.
- PepsiCo is ramping up its onsite health facilities for workers.
Data is a real-time snapshot *Data is delayed at least 15 minutes