American Eagle Soars On Better-Than-Expected Earnings And Guidance

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Backed by a recovery in store traffic and solid progress on the omni-channel front, the company reported 7% growth in comparable sales and 8.3% rise in revenues to $699.5 million, slightly ahead of the expected $692 million. American Eagle’s earnings increased a staggering 646% to $29.1 million or $0.15 a share, soundly beating its own guidance of $0.09-$0.12. Sturdy topline growth, a notable rise in gross margins, and controlled SG&A expense enabled the retailer to record such an increase in profits.

Vía Forbes Real Time http://onforb.es/1Kx5yuL