BUZZ-American Eagle Outfitters slides despite upbeat annual sales forecast

Reuters03-05
BUZZ-American Eagle Outfitters slides despite upbeat annual sales forecast

** Shares of American Eagle Outfitters AEO.N slump 11.2% to $19.94

** Global specialty retailer forecast annual sales above estimates on Wednesday, betting on marketing-driven demand for its apparel and accessories from affluent shoppers, even as pressures linger from import duties in U.S.

** J.P. Morgan maintains "neutral" stance on the stock, says "digging deeper, consolidated comp growth was tempered by slight underperformance at the AE brand (despite the brand running deeper promotions year over year in the denim category, notably in Women's)"

** Co's Q4 net revenue of $1.76 billion edged past estimates of $1.74 billion

** 13 analysts rate the stock "hold" on average; median PT is $25 - data compiled by LSEG

** As of last close, AEO is down ~15% this year

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment