WASHINGTON (dpa-AFX) - Shares of American Eagle Outfitters Inc. (AEO) slipped 4% on extended trading session Wednesday after the company's fourth-quarter revenues fell short of estimates and outlook also were below current expectations.
Net income for the fourth quarter dropped to $76.2 million or $0.43 per share from $94.0 million or $0.52 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.42 per share.
Revenues for the quarter grew 1% to $1.24 billion from $1.23 billion a year ago. Analysts had a consensus revenue estimate of $1.26 billion for the quarter.
Revenues were adversely affected by about $60 million of lost revenue due to operating one less week in 2018, which is consistent with the retail calendar.
Comparable sales increased 6% over the comparable period ending February 3, 2018, following an 8% increase last year. This marked the 16th consecutive quarter of positive comparable sales.
By brand, American Eagle comparable sales increased 3%, building on a 5% increase last year. Aerie's comparable sales increased 23%, following a 34% increase last year, marking the 17th consecutive quarter of double-digit comp growth.
Looking forward to the first quarter, the company expects earnings of about $0.19 to $0.21 per share. Analysts currently estimate earnings of $0.24 per share for the quarter.
AEO closed Wednesday's trading at $21.32, up $0.89 or 4.36%, on the NYSE. The stock, however, slipped $0.92 or 4.32% in the after-hours trade.
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