Why American Eagle Outfitters Stock Rose Today

Shares of American Eagle Outfitters (NYSE: AEO) rose almost 6% on Wednesday after the clothing retailer announced it had appointed a new director to its board, bringing the total number to nine.

Board appointments don't typically cause a stock to move, but Steven Davis is a former CEO of the Bob Evans restaurant chain and has served in various executive and management positions for several consumer-oriented brands, including Yum! Brands and Kraft General Foods. He is currently on the board of several others, including PPG Industries, Albertsons, and Marathon Petroleum.

Image source: American Eagle Outfitters.

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Source Fool.com