Log in to your IBTimes Account

close
ID
Password
  • Set your IBTimes.com Edition

Correction: American Eagle same-store sales story



By AP
05 September 2008 @ 10:24 am ET

NEW YORK - In a Sept. 3 story about teen retailer American Eagle Outfitters Inc., The Associated Press erroneously reported that the company's August same-store sales rose 5 percent. The sales fell 5 percent.

Related Topic

Get stories by e-mail on this topic.

E-mail:
Quotes
AEO 17.58 0.09

A corrected version of the story appears below.

____________

NEW YORK (AP)--Teen retailer American Eagle Outfitters Inc. posted a 5 percent decrease in its August same-store sales as weakness in its women's clothing business partially offset gains in its men's line.

The Pittsburgh-based retailer said total sales for the four weeks ended Aug. 30 rose 3 percent to $320 million from $311.3 million a year earlier.

For the year to date, same-store sales, or sales at stores open at least a year, fell 7 percent. Same-store sales are regarded as an important indicator of a retailer's health.

For the year-to-date period, sales rose 1 percent to $1.65 billion from $1.63 billion.

The retailer still expects third-quarter per-share earnings to total 31 to 36 cents, down from 45 cents last year.

Analysts polled by Thomson Reuters expect, on average, earnings of 35 cents per share.

Shares of American Eagle fell 47 cents, or 3 percent, to $15.25.

Copyright 2009 The Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


advertisement
More Industries
Warren Buffett's Berkshire Hathaway Inc said it plans to limit the amount of business underwritten by its reinsurance operations, as it prepares to spend...
California was awarded $19.5 million in a settlement against Royal Dutch Shell Plc's U.S. unit for not storing fuel properly at filling stations in the s...
Citigroup Inc said on Friday that new accounting rules for securitization trusts may prevent the bank from funding some of its assets with a top debt rat...

advertisement
Advertisement
POS Magnetic Card Readers

Online distributor for point of sale equipment, TYSSO and Pegasus.

 
IBTimes.com Web
Partners
International Business Times© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives