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.
| AEO | 27.53 |
A corrected version of the story appears below.
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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.

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