MarketWatch writes article about American Eagle issues upbeat guidance:
By Lisa Beilfuss
Published: Mar 2, 2016 4:56 p.m. ET
By
LisaBeilfuss
American Eagle Outfitters Inc. said its profit jumped during the
holiday quarter, boosted by higher sales that came despite unfavorable
weather and more cautious consumer spending.
Chief Executive Jay Schottenstein, who was named permanent CEO in
December after being credited with a “swift recovery” at the apparel
retailer, called the fourth quarter a challenging one for the apparel
industry. Retailers from Macy’s Inc. and Nordstrom Inc. to Wal-Mart
Stores reported disappointing fourth-quarter results, hurt by warm
weather that crimped demand for cold-weather gear, aggressive
discounting and a more discerning consumer.
But American Eagle managed to post sales gains and reported earnings
that came in at the high-end of its guidance. Moreover, the retailer
signaled momentum would continue and offered upbeat guidance for the
current quarter.
Teen retailers like American Eagle and rival Abercrombie & Fitch Co.
have faced tough competition from fast-fashion players like Forever 21
and H&M that offer the latest styles at lower prices. But American
Eagle has made progress this year in improving its merchandise and
MarketWatch Article Source Here.