Why American Eagle Outfitters Topped the Market Today
Shares of American Eagle Outfitters (NYSE: AEO) took flight on Thursday. Following the clothier's release of its latest set of quarterly and annual earnings, investors bid the stock up by 1.2% on the day. That modestly beat the S&P 500 index, which inched up by 0.8%.
For its fiscal 2022 fourth quarter, which ended Jan. 28, American Eagle posted total net revenue of $1.5 billion. Although this exceeded both the company's own and analysts' expectations, it was down 1% on a year-over-year basis. Non-GAAP (adjusted) net income came in at $73.3 million, or $0.37 per share. That was up, if not spectacularly, from the year-ago figure of $71.6 million.
On average, prognosticators covering the clothing retailer were modeling for $1.48 billion on the top line and adjusted net income of $0.30 per share.
Source Fool.com
