American Eagle (AEO) Q2 2021 earnings

American Eagle on Thursday posted combined fiscal second-quarter outcomes, as earnings topped analysts’ estimates however gross sales got here up quick as its e-commerce enterprise decelerated in contrast with the prior 12 months.

The corporate, which additionally owns the Aerie lingerie model, mentioned diminished promotions and managed prices helped gas its profitability over the summer time months.

Its shares fell greater than 4% in premarket buying and selling on the information.

Here is how American Eagle did for the quarter ended July 31 in contrast with what Wall Avenue was anticipating, utilizing Refinitiv estimates:

• Earnings per share: 60 cents adjusted vs. 55 cents anticipated
• Income: $1.19 billion vs. $1.23 billion anticipated

American Eagle’s internet revenue rose to $121.5 million, or 58 cents per share, from a lack of $13.eight million, or eight cents a share, a 12 months earlier. Excluding one-time gadgets, it earned 60 cents per share, forward of the 55 cents that analysts had been on the lookout for.

Income grew 35% to $1.19 billion from $883.5 within the year-ago interval. That got here in in need of analysts’ forecast for $1.23 billion.

Aerie income of $336 million was up 34% from a 12 months earlier. American Eagle income rose 35% to $846 million over the identical interval.

Digital gross sales fell 5% from 2020 ranges. Final summer time, many customers opted to buy on-line quite than go to shops as a result of Covid pandemic. Digital income jumped 66% on a two-year foundation, American Eagle mentioned.

The corporate didn’t supply an outlook in its earnings press launch.

As of Wednesday’s market shut, American Eagle shares are up almost 50% 12 months up to now. The corporate’s market cap is $5.04 billion.

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