{"id":133465,"date":"2024-12-05T05:01:06","date_gmt":"2024-12-04T22:01:06","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=133465"},"modified":"2024-12-05T05:01:06","modified_gmt":"2024-12-04T22:01:06","slug":"american-eagle-aeo-earnings-q3-2024","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=133465","title":{"rendered":"American Eagle (AEO) earnings Q3 2024"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107382350\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>A shopper walks by an American Eagle store on November 21, 2023 in Glendale, California.\u00a0<\/p>\n<p>Justin Sullivan | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/AEO\/\">American Eagle<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> issued weak holiday guidance on Wednesday and cut its full-year forecast as it contends with value-seeking consumers who are only willing to spend during key shopping moments.\u00a0<\/p>\n<p>The apparel retailer narrowly missed Wall Street&#8217;s expectations on the top line, but beat on the bottom line.\u00a0<\/p>\n<p>Here&#8217;s how American Eagle performed during its third fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:<\/p>\n<ul>\n<li><strong>Earnings per share:<\/strong> 48 cents adjusted<strong> <\/strong>vs. 46 cents expected<\/li>\n<li><strong>Revenue:<\/strong> $1.29 billion<strong> <\/strong>vs. $1.30 billion expected<\/li>\n<\/ul>\n<p>The company&#8217;s reported net income for the three-month period that ended Nov. 2 was $80 million, or 41 cents per share, compared with $96.7 million, or 49 cents per share, a year earlier. Excluding one-time charges related to restructuring and impairment costs, American Eagle posted an adjusted profit of 48 cents per share.\u00a0<\/p>\n<p>Sales dropped to $1.29 billion, down about 1% from $1.3 billion a year earlier.\u00a0<\/p>\n<p>While it was narrow, Wednesday&#8217;s miss is the third quarter in a row that American Eagle has not met Wall Street&#8217;s sales targets.<\/p>\n<p>Shares dropped about 13% in extended trading. <\/p>\n<p>In a statement, CEO Jay Schottenstein touted a &#8220;strong&#8221; back-to-school shopping season but said demand remains inconsistent in between major shopping events.\u00a0<\/p>\n<p>&#8220;We have entered the holiday season well positioned, with our leading brands offering high-quality merchandise, great gifts and an outstanding shopping experience across channels,&#8221; Schottenstein said. &#8220;Key selling periods have seen a positive customer response, yet we remain cognizant of potential choppiness during non-peak periods.&#8221;\u00a0<\/p>\n<p>Consumers coming out for key shopping moments, and then sharply dropping off, has been a consistent theme across the retail industry. <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\"><a href=\"https:\/\/www.cnbc.com\/quotes\/FL\/\">Foot Locker<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> cited a <a href=\"https:\/\/www.cnbc.com\/2024\/12\/04\/foot-locker-fl-earnings-q3-2024.html\">similar dynamic<\/a> when reporting earnings earlier on Wednesday, as did <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><a href=\"https:\/\/www.cnbc.com\/quotes\/DLTR\/\">Dollar Tree<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>.<\/p>\n<p>For its holiday quarter, American Eagle is expecting comparable sales to be up around 1% with total sales down about 4%, including an $85 million impact from having <a href=\"https:\/\/www.cnbc.com\/2024\/10\/19\/holiday-shopping-season-elections-hurricanes-to-affect-retail-spending.html\">one less selling week<\/a> and a later start to the holiday shopping season. The outlook is below the 2.2% comparable sales growth StreetAccount was looking for and the 1% sales decline LSEG had expected.\u00a0<\/p>\n<p>As a result, American Eagle is now expecting comparable sales to grow by 3% for the full year, down from prior guidance of 4% growth and below StreetAccount&#8217;s estimate of 4.1%. It&#8217;s now expecting full-year sales to be up 1%, down from previous guidance of between 2% and 3% and below LSEG expectations of 2.5% growth.\u00a0<\/p>\n<p>Similar to other retailers, American Eagle had taken a cautious approach to the back half of the year as it contended with <a href=\"https:\/\/www.cnbc.com\/2024\/11\/29\/how-the-2024-election-will-impact-black-friday-holiday-spending.html\">uncertainty around the 2024 election<\/a> and the overall macroeconomic environment. But unlike its competitors, it has kept that cautious tone.<\/p>\n<p>Both <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-7\"><a href=\"https:\/\/www.cnbc.com\/quotes\/ANF\/\">Abercrombie &amp; Fitch<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\"><a href=\"https:\/\/www.cnbc.com\/quotes\/DKS\/\">Dick&#8217;s Sporting Goods<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, which <a href=\"https:\/\/www.cnbc.com\/2024\/08\/28\/abercrombie-fitch-anf-earnings-q2-2024.html\">issued cautious outlooks<\/a> earlier this year, <a href=\"https:\/\/www.cnbc.com\/2024\/11\/26\/dicks-sporting-goods-dks-earnings-q3-2024.html\">reversed their previous mood <\/a>when <a href=\"https:\/\/www.cnbc.com\/2024\/11\/26\/abercrombie-fitch-anf-earnings-q3-2024.html\">reporting earnings<\/a> earlier this month.\u00a0<\/p>\n<p>Despite the underwhelming outlook and sales miss, American Eagle is seeing strong demand for its Aerie brand. Third-quarter revenue for Aerie came in at an all-time high for the company and comparable sales grew 5%, on top of 12% growth from the year-ago period.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/12\/04\/american-eagle-aeo-earnings-q3-2024.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A shopper walks by an American Eagle store on November 21, 2023 in Glendale, California.\u00a0 Justin Sullivan | Getty Images American Eagle issued weak holiday guidance on Wednesday and cut &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=133465\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-133465","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/133465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=133465"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/133465\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=133465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=133465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=133465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}