American Eagle Outfitters Inc (NYSE: AEO) is trading lower Thursday after the company reported worse-than-expects second-quarter revenue results.
American Eagle reported quarterly earnings of 60 cents per share, which beat the estimate of 53 cents per share. The company reported quarterly revenue of $1.19 billion, which came in below the estimate of $1.23 billion.
"We are running our business with a laser focus on profitability through inventory and real-estate optimization initiatives and investments to enhance our supply chain," said Jay Schottenstein, CEO of American Eagle. "Despite external challenges, I believe we are on path to achieve $600 million in operating income this year, well ahead of our previous target.”
American Eagle is an apparel and accessory retailer with stores throughout North America, China, Hong Kong and the United Kingdom.
AEO Price Action: American Eagle has traded as high as $38.99 and as low as $12.22 over a 52-week period.
The stock was down 8.54% at $27.48 at time of publication.
Photo by Mike Mozart from Flickr.
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