NEW YORK, NY / ACCESSWIRE / August 24, 2017 / Clothing retailers Express and American Eagle Outfitter released their second quarter results yesterday and both saw their shares explode after. Looking ahead for the third quarter, American Eagle is in line with Wall Street's forecasts with their projections but Express' outlook trails what analysts are expecting for the period.
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American Eagle Outfitters
Express, Inc.'s shares skyrocketed on Wednesday, closing up nearly 20%. Volume at almost 18.5 million shares was significantly higher than the roughly 2.6 million shares that the stock usually sees on average. Despite the company posting a second quarter loss of $11.8 million, the company still beat what analysts had been expecting. The Ohio-based clothing retailer posted a loss of 15 cents per share. After being adjusted for restructuring costs, earnings were a loss of 1 cent per share. This was ahead of the loss of 2 cents that Wall Street had expected. Revenue for the period was $478.5 million, also ahead of the $477.4 million that analysts were expecting. For the third quarter, the company is expecting earnings per share for the quarter to range from 6 cents to 10 cents. This is below the 11 cents that analysts are looking for. Shares are down 39% YTD.
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American Eagle Outfitters, Inc.'s shares closed up 7.76% on Wednesday with over 18 million shares traded. The clothing retail company released its fiscal second quarter results and revealed net income of 12 cents per share. Earnings after being adjusted for restructuring costs and non-recurring costs, were 19 cents per share. This blew past what Wall Street expected at 16 cents per share. Revenue of $844.6 million was also ahead of the $826 million forecasts. Looking ahead, teen apparel company expects EPS in the range of 36 to 38 cents. Wall Street was expecting 38 cents for the third quarter of 2017. Shares are down 20% so far this year.
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