Why American Eagle Outfitters Stock Jumped 5% at the Open Today
Shares of American Eagle Outfitters (NYSE: AEO) rose as much as 5% in the first hour of trading on Thursday. The news driving the gain was the company's after-market earnings pre-announcement on Wednesday. It was pretty good reading.
The big story is that American Eagle Outfitters is seeing strength in both its core brand and its Aerie division. CEO Jay Schottenstein noted that he was "amazed" by the results at Aerie, which is the retailer's core growth platform at the moment. That said, he also stated that "stronger merchandise, marketing and inventory management" has led to solid results in the much larger American Eagle division. All in, the company expects to exceed its first-quarter projections when it reports earnings on May 26.
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Source Fool.com
