U.S. News

American Eagle Outfitters Reports Strong Same-Store Sales


American Eagle Outfitters said on Wednesday sales at stores open at least a year rose 8% in June, almost doubling analyst expectations.

Analysts, on average, had expected the teen clothing retailer to post an increase of 4.3 percent, according to a Reuters survey.

The retailer also now expects second-quarter earnings to be 35 cents to 36 cents a share, compared with its previous forecast of 34 cents to 36 cents. Analysts on average forecast earnings of 36 cents a share, according to Reuters Estimates.

Total sales in the five weeks ended July 7 were up 15% at $270.2 million.

Shares jumped 7% in after-hours trading.