Why American Eagle Stock Was Falling Today
Shares of American Eagle Outfitters (NYSE: AEO) were pulling back today after the apparel retailer issued a disappointing second-quarter earnings report. Like other retailers, American Eagle was hurt by a slowdown in consumer spending and bloated inventory levels that forced it to mark down more merchandise than normal.
As of 10:36 a.m. ET on Thursday, the stock was down 9.1%.
Revenue in the quarter was flat at $1.2 billion, which matched the analyst consensus. But comparable-store sales fell for both of its brands. At American Eagle, comps were down 10%; at Aerie, the fast-growing brand focused on intimates for young women and teen girls, comps were down 6%.
Source Fool.com
