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American Eagle Outfitters misses revenue estimates as digital sales fall

Reuters
·1 min read

Sept 2 (Reuters) - American Eagle Outfitters Inc missed quarterly revenue estimates on Thursday, hurt by a slowdown in its online business as people shop more at physical stores following vaccination drives and easing of coronavirus curbs.

Digital revenue decreased 5% from a year earlier in the second quarter ended July 31, while consolidated revenue from its stores increased 73% as more people visited its stores.

Total net revenue jumped to $1.19 billion from $883.5 million a year earlier. Analysts on average expected $1.23 billion, according to Refinitiv IBES. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Ramakrishnan M.)

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