American Eagle Jumping on Earnings Beat, Raised Guidance

American Eagle Outfitters Inc. (NYSE: AEO) reported third-quarter 2012 results before markets opened this morning. The specialty clothing retailer reported adjusted diluted earnings per share (EPS) of $0.39 and revenues of $910 million. In the same period a year ago, the company reported EPS of $0.27 on revenue of $819 million. Today's results also compare to the Thomson Reuters consensus estimates for EPS of $0.39 and $873.26 million in revenue.

On a GAAP basis, American Eagle reported EPS of $0.41, not including a loss from discontinued operations. The company has shuttered its 77kids business.

The company's CEO said:

Our third quarter reflected on-going business momentum, profitable sales growth, and a leading brand and product driven customer experience. We're also pleased to see business strength carry into the fourth quarter and record results over Thanksgiving weekend.

American Eagle guided fourth-quarter EPS at $0.54 to $0.56, compared with a consensus estimate of $0.55. For the full fiscal year, ending in January, the company forecast EPS of $1.38 to $1.40, above the consensus estimate of $1.37.

Shares are trading up 7.8% this morning at $20.93 in a 52-week range of $12.50 to $23.94. Thomson Reuters had a consensus analyst price target of around $25.50 before today's results were announced.

Paul Ausick


Filed under: 24/7 Wall St. Wire, Apparel, Earnings, Retail Tagged: AEO
Read Full Story

Markets

DJIA 24,952.23 -138.25 -0.55%
NASDAQ 7,738.38 -8.00 -0.10%
NIKKEI 225 22,680.33 -171.42 -0.75%
HANG SENG 30,309.49 -130.68 -0.43%
DAX 12,834.11 -176.44 -1.36%
USD (per EUR) 1.16 0.00 0.20%
USD (per CHF) 0.99 0.00 -0.27%
JPY (per USD) 110.48 -0.14 -0.12%
GBP (per USD) 1.32 0.00 -0.18%