{"id":121245,"date":"2021-04-14T23:06:12","date_gmt":"2021-04-14T23:06:12","guid":{"rendered":"https:\/\/precoinnews.com\/?p=121245"},"modified":"2021-04-14T23:06:12","modified_gmt":"2021-04-14T23:06:12","slug":"american-eagle-forecasts-sales-above-estimates-on-full-price-selling","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/american-eagle-forecasts-sales-above-estimates-on-full-price-selling\/","title":{"rendered":"American Eagle forecasts sales above estimates on full-price selling"},"content":{"rendered":"
FILE PHOTO: American Eagle Outfitters shop in Singapore May 15, 2016. REUTERS\/Thomas White<\/figcaption>

(Reuters) – American Eagle Outfitters Inc on Wednesday forecast first-quarter revenue of more than $1 billion as strong demand helped the apparel retailer sell more products of its eponymous and Aerie labels at full price.<\/p>\n

The Pittsburgh, Pennsylvania-based company\u2019s shares rose about 5% in extended trading as its forecast came in above market estimates of $904.1 million, according to IBES data from Refinitiv.<\/p>\n

Like its rivals Levi Strauss Co and Abercrombie & Fitch Co, American Eagle has recorded stronger sales as more customers spent their stimulus checks on the company\u2019s jeans, trousers and tops.<\/p>\n

\u201cIn light of the current environment, it\u2019s truly gratifying to see consumer optimism, strong demand across channels,\u201d American Eagle Chief Executive Officer Jay Schottenstein said in a statement.<\/p>\n

Aerie, which sells work-from-home favorites including lingerie and loungewear, has been exceeding the company\u2019s expectations, Schottenstein added.<\/p>\n

American Eagle also forecast operating income of about $120 million for the first quarter, compared with $48 million in 2019.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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