Why American Eagle Outfitters Stock Popped Today
Shares of American Eagle Outfitters (NYSE: AEO) were moving higher today after investors overlooked an ugly first-quarter earnings report and focused instead on signs of a recovery and strong online demand.
The stock was up 15.7% as of 10:32 a.m. EDT on Wednesday.
Like other brick-and-mortar apparel retailers , the teen-focused brand saw sales plunge during the quarter with its stores closed for roughly half the period. Revenue in the quarter fell 38% to $552 million, well below estimates at $634.3 million. By segment, sales at American Eagle fell 45%, but declined just 2% at Aerie, its fast-growing brand of intimate apparel for women.
Source Fool.com
