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wing1314
2021-09-02

Big fan of American eagles. Like pls

American Eagle Slips 10% as Revenue Disappoints

Investing.com – American Eagle stock once plunged 10% in Thursday’s early trading following second-q

American Eagle Slips 10% as Revenue Disappoints

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However, revenue of $1.19 billion was below analysts’ estimate of $1.22 billion.</p>\n<p>Chief Executive Officer Jay Schottenstein said the company has room to grow, and that it will hit $600 million in operating income this year.</p>\n<p>American Eagle said its capex for the financial year will be at the lower end of the $250 million to $275 million guidance.</p>\n<p>Digital sales decreased 5%, a sharp reversal considering they rose 57% in the first quarter. The company said the pandemic had last year accelerated digital sales and also created a significant backlog that shifted sales from the financial year’s first quarter to its second.</p>\n<p>The company spent more on advertising, incentives and other selling expenses as economies reopened and it tried to attract more buyers to its stores.</p>\n<p>Inventory costs rose 20% compared to a 21% decline last year. 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American Eagle Slips 10% as Revenue Disappoints

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