(Bloomberg) -- American Eagle Outfitters Inc. posted same-store sales that missed analysts’ estimates for the third quarter, but there was a bright spot: its underwear business, Aerie, which continued to lift the retailer.
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- Same-store sales, a closely-watched gauge of a retailer’s health, rose 8 percent in the quarter ended Nov. 3. Analysts anticipated an 8.4 percent gain.
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Key Insights
- Earnings per share forecast for the fourth quarter also disappointed, trailing estimates.
- Aerie has been a driver for the retailer. It posted a sixteenth straight quarter of double-digit same-store sales last quarter, far outpacing the namesake brand.
- Aerie has been taking on Victoria’s Secret’s old-school approach by including diverse models of all body types, who’s images aren’t retouched in editing. The brand has garnered a strong following among teen and young-adults.
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- Details on the results.
Market Reaction
- The shares were little changed Tuesday in late U.S. trading. They have gained 1.2 percent this year, beating the S&P 500 Index which fell about 1.4 percent in that time.
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