American Eagle Raises Annual Revenue Forecast on Strong Holiday-Season Demand
Reuters2023-11-21
American Eagle Outfitters on Tuesday raised its annual revenue forecast, in a sign that demand for its apparel and accessories remained steady ahead of the crucial holiday season.
The company now expects annual revenue to be up mid single digits, compared with its prior forecast of a rise in low single digits.
Analysts on average had expected revenue to grow 2.61%, according to LSEG data.
But stocks tumbled over 16% in premarket trading.
(Reporting by Juby Babu in Bengaluru; Editing by Shweta Agarwal)
((Juby.Babu@thomsonreuters.com;))
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