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Dec 11, 2018

American Eagle sales disappoint, but lingerie brand Aerie still going strong

Inside an Aerie for American Eagle Outfitters Inc. store in San Francisco.

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American Eagle Outfitters Inc. (AEO.N) 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.

Key Insights

  • Same-store sales, a closely-watched gauge of a retailer’s health, rose 8 per cent in the quarter ended Nov. 3. Analysts anticipated an 8.4 per cent gain.
  • 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.

The shares were little changed Tuesday in late U.S. trading. They have gained 1.2 per cent this year, beating the S&P 500 Index which fell about 1.4 per cent in that time.