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American Eagle Soars on Raised Earnings Guidance

Jay Schottenstein SCREEN PRINT

 

American Eagle’s stock soared 10% when it raised earnings guidance. CEO Jay Schottenstein said profits and margins were improved because there were fewer promotions. The company will report earnings on December 4.

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The teen and young adult retailer said it expects earnings would be up 16%, but also predicts same store sales will be 5% lower than they were last year. Second quarter revenue declined 2%.

 

 

 

 

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