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Spread: 4.00 (6.349%)
Market Cap: £6.13m
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UPDATE 1-American Eagle Outfitters tops same-store estimates

Thu, 08th Mar 2018 13:36

March 8 (Reuters) - American Eagle Outfitters Increported better-than-expected comparable store sales for theholiday shopping quarter, helped by robust demand for its Aerieline of lingerie, and forecast current-quarter profit aboveexpectations.

The company's shares rose 3.3 percent in premarket tradingon Thursday.

American Eagle's comparable sales rose 8 percent in thefourth quarter ended Feb. 3, beating analysts' average estimateof a 7.34 percent rise, according to Thomson Reuters I/B/E/S.

Same-store sales for the Aerie brand jumped 34 percent,cruising past the 26.86 percent rise expected by analysts.

Net income rose to $93.96 million, or 52 cents per share,from $54.62 million, or 30 cents per share, a year earlier.

Excluding a one-item tax benefit of 8 cents, the companyearned 44 cents per share, in line with analysts' averageestimate.

Net revenue rose 12 percent to $1.23 billion, aboveanalysts' expectation of $1.21 billion.

The company said it expects first-quarter earnings per shareto be about 20 cents to 22 cents.

Analysts on average were expecting 19 cents per share.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by SrirajKalluvila)

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