American Eagle Outfitters Shares Surge On Upgraded Q4 Guidance

(RTTNews) - American Eagle Outfitters, Inc. (AEO) reported that fourth quarter-to-date revenue, through December 30, 2023, is up approximately 8%, with American Eagle tracking up high single digits and Aerie up in the low teens. The company increased fourth quarter outlook for revenue to be up low double digits. Operating profit is now expected to be approximately $130 million, up from previous guidance of $105 to $115 million. The guidance excludes potential asset impairment and restructuring charges.

The company noted that the improved outlook is a result of record holiday sales and strong merchandise margins.

Shares of American Eagle Outfitters are up 12% in pre-market trade on Monday.

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