American Eagle's First-Quarter Net Income Quadruples, but Revenue Growth Falls Short of Expectations from rtnn net Watch Video

⏲ Duration: 0:36
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✓ Published: 31-May-2024

Description:
American Eagle reported fiscal first-quarter net income that quadrupled from the year-ago period. While profit increased significantly, revenue growth of 6% was slower than analysts' expectations of more than 7% growth. For the full fiscal year, AEO expects revenue growth of 2 to 4%, slightly below analysts' estimates. AEO is focusing on revamping its product assortment by removing underperforming items and focusing on top categories. The company recently remodeled some American Eagle stores with a new design that is driving better results.